res 342 week 5 supplement reading material

res 342 week 5 supplement reading material - RES 342...

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RES 342 Research and Evaluation II RES/342 Week Five TIME SERIES AND FORECASTING Introduction “During the last 25 years, time series analysis has become one of the most important and widely used branches of Mathematical Statistics. Its fields of application range from neurophysiology to astrophysics, and it covers such well-known areas as economic forecasting, study of biological data, control systems, signal processing and communications, and vibrations engineering” (Blackwell Publishing, 2004.). Time series analysis assumes that the future will behave like the past. Based on this assumption, we are able to forecast future outcomes based on current knowledge. Some events follow a linear trend, others fluctuate in a predictable way, and still others are unpredictable. Week in Relation to the Course In previous weeks, we used hypothesis testing to draw conclusions about sample data. This week, we use time series analysis to make predictions from a sample of data. We look at the trends and various predictable fluctuations to make forecasts. The linear regression formula from
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This note was uploaded on 11/08/2010 for the course BUSINESS BSDA0TJJH9 taught by Professor Charlesfanning during the Spring '10 term at University of Phoenix.

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res 342 week 5 supplement reading material - RES 342...

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