Week 5: Assignment 5: Time Series Data Forecasting
Course Objectives:
- CO6: Utilize quantitative forecasting methods with time series data.
Prompt:
This week is dedicated to Time-Series Forecasting techniques. Start in the Lessons section of the classroom by completing the reading and viewing assignments. Don’t even think about trying to complete this homework assignment without understanding the concepts involved in Forecasting Time-Series data. Once you have the concepts down in chapter 5, and have completed the Discussion forum, you are ready to start this assignment. Download the Excel Template attached to this assignment onto your computer, open it up, and read through the “Red Snapper Scenario” at the top of the page. All of this week’s assignments focuses on historical Red Snapper Catches for 2015 through 2018 (by Quarter) off the coast of Louisiana. The last four rows of the table are empty as 2019 is what you are going to forecast using the historical data for 2015 through 2018. As you scroll down through the Spreadsheet, you will notice in the far left column, there are five tasks for you to complete this week. Every one of these tasks is mirrored in the three YouTube videos below. Although this project is about Red Snapper Catches (your faithful designer’s favorite fish to catch and eat out of the southern bays of Louisiana) and the videos forecast Car sales, the process for forecasting the future year (in our case 2019) is identical.
You will want to watch these videos as you complete each of the five tasks. Where you want to transition from video 1 to video 2 and from video 2 to video 3 is very easy to see. One easy way to get started is to have a video open on one side of your screen and the excel template on the other.
