For this assignment, our teacher gave us data for 144 periods and asks us... "use the best forecasting technique for forecast 12 periods into the future.
State all relevant assumptions, and briefly describe the technique(s) you used."
Now, I'm assuming this would be a seasonal forecast, but I'm not sure what technique to use.
We have only covered the following topics so far: 1) Time series analysis: SimpleMovingAverage, Weightedmovingaverage, Exponential Smoothing 2) Differencing 3) Forecast errors: absolute deviation, mean absolute deviation (MAD), and tracking signal 4) Single linear regression 5) Seasonalized time series regression; and nonlinear seasonal forecasting Not sure, but 5 seems likely...I do not know how to set this up in Excel and what "assumptions" to make...can you show me how to run this in Excel? thanks.
Please see the attachment.
<br><br>You can use Excel to do this analysis. In Excel, you click main menu and look for "Tools", then from "Tools" you can find "Data Analysis". Double ...
This solution contains a detailed explanation of using Excel to do Seasonal Forescasting