BSG 503 Section 2
Dr. Jacob Daniel
5-2. What is a time-series forecasting model?
A time-series forecasting model is used to predict future values by observing previous values.
5-4. What is a qualitative forecasting model,
There seems to have been some confusion on which homework assignment was due to this week
based on the way the weekly assignments are posted and structured, but I believe chapter 6 from
Render and chapter 11 from Ozcan correspond with the objectives for t
Based on the data, the best site, which would produce the least cost is St. Louis. The TC for St.
Louis = $17,250 as compared to TC for East St. Louis = $17,400.
For this problem, you will need to add the production costs to the existing transpo
A linear model would be unreasonable based on the plotted data, as the plotted datas error
variance indicates the relationship is non-linear.
c) If 10 million tourists visit the city,
If, Y = b0 + b1X1 + b2X2
Y = 6.5
4) In order to calculate the seasonal factor we would use the equation.
S is the seasonal factor, D= demand for that period and D = total demand.
The moving average would be MA=
D 3 weeks