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# BUS107 Quantitative Methods 1. Linear Programming (LP) Model 2....

BUS107 Quantitative Methods

1. Linear Programming (LP) Model

2. Graphical LP Solution

3. LP Solution with Excel Solver (Computer Solution)

4. Sensitivity Analysis (Changes in the Constraint Right-Hand Side/Changes in the Objective Function Coefficient)

5. Forecasting (Why do we forecast?/ How do we forecast?

4. Tools for decision analysis/Criteria for decision making

Study Guide/Textbook: https://www.coursehero.com/file/38932636/BUS107-StudyGuidepdf/

Question

According to a recent article, "More singles, fewer babies, slowest decade of population growth since 1965: 5 highlights of population census", in The Straits Times, compared with 10 years ago, more Singaporeans remain single, and young Singaporeans are more likely to remain single. Knowing that you have learned the knowledge related to making forecasts, your friends ask for your opinion on the following questions.

Use relevant data in the Excel screenshot (images below) to answer the following questions.

(a) Comment on the underlying pattern in the proportion of singles among residents aged 20 to 29 years over 1983 - 2020.

(b) Use a suitable method to forecast the proportion of singles among residents aged 20 to 29 years for the years 2021 and 2022.

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