BUSN603

Prepare a 5-6 page report (excluding the cover page, the reference page, and any tables and graphs). In your paper, describe the attributes of a good quantitative analysis model and describe the uses of business forecasting. You need to include at least one real world example and apply at least two different methods of forecasting presented in Chapter 5. Please present both your raw data and your two numericalforecasting results from your two chosen forecasting methods. APA format and appropriate use of section headings are required.

Hint: You need to collect at least one data series for your analysis in this assignment. Please include the name and the exact formula or Excel/QM function/output of each forecast method you applied to your analysis. For example, if you find GDP data from year 2000 to 2011, then you need to forecast the GDP in the next period, i.e. 2012. You need to select two different forecast methods. For each method, you need to provide the name of the method and your numerical forecast together with the formula or program output you used to get that number. (A verbal description by itself will not receive any credits. Please copy and paste in or attach your Excel Worksheet, which is a must to receive credits for statistical analysis.) Finally, please present your raw data either in a table or a graph. A graph is preferred as you can also illustrate how well your forecast may fit into the actual series. You do need to analyze your own data and cannot simply cite the statistical result published else where. The following video shows of an example of using Excel QM for forecasting.

Here are two links you may use to get the data: the Bureau of Economic Analysis and U.S. Bureau of Labor Statistics.

Please check the basic APA format checklist posted in the Announcement.

ABC_Analysis_Excel_new2.doc 

Please see below outline regarding the work that has to be completed.  Please reference the assignment page and the grading rubric to help guide you further as you're working through this project.  Please pick which part you're willing to do by EOD Tuesday or else you will be assigned a task.  I will pick person 5 (summarize/conclusion task) and also make sure the team is working together.  Person 3/4 will have the most to do but can always ask any one of us to help anytime.

i pick the attributes 

2.  Describe the attributes of a good quantitative analysis model and describe the uses of business forecasting.  Please use at least 1 peer reviewed reference.