BU385 Lecture 4: BU385 Sept. 26 Lecture
Document Summary
In this class, prof. wagner handed out many physical pieces of paper. See document on mls called forecasting practice worksheet templates. He handed out two more worksheets involving examples. For one of them he did it in class (example about leather sofas) The other we should for next class (example about elora ice cream company) He also handed out a sheet of paper that was a print out of slides for 4a. The slides contained examples of exam questions. His main point: do what the question instructs in terms of using numbers. For the first question, you could have used na ve forecasting but the question gave you a number to use instead of that. Seasonal variations regularly repeating wavelike movements in series values that can be tied to recurring events, weather, calendar. Can also be for shorter lengths of time. Ex: rush hour traffic; weekends for restaurants.
