Purpose
- To assess your ability to conduct quantitative data analysis and interpret the results of data analysis introduced inForecasting Trend.
- To assess your ability to communicate your research findings.
L3 Traits
Overview
In this course you will use MS Excel to conduct quantitative data analysis. The guidelines on how to conduct the analysis can be found in each module's key points. The dataset or the assignment is different from the dataset used in the examples; however, the formulas and procedures remain virtually unchanged. The actual values for the test statistics will differ from those provided in the examples and will require separate explanation.
Action Items
1. Review the Key Points for Forecasting Trend.
2. Download and review MS Excel file examples included in the Key Points for Forecasting Trend.
3. Using the dataset provided by your professor, calculate the following values based on the stationary, linear, quadratic, and exponential type models:
- Coefficients' estimates for each model
- Residuals etfor each model
- Based on the values of the residuals etfound in the previous step, construct their graph as a function of t for each model
- Based on the analysis above, determine the most appropriate functional form for the model and justify your choice