Main Module Two
Forecasting

Learning Objectives

At the end of the module, the student will:

Be aware of basic types of quantitative and qualitative forecasting models

Be aware of classification of forecasting methods by time span and purpose

Know how to conduct a Delphi Forecast

Understand the components of a time series

Know how to compute and use naïve, moving average and exponential smoothing methods in time series forecasting

Know how to apply trend projection in time series forecasting

Know how to compute and use seasonal projections in time series forecasting

Understand the importance of measuring the reliability of time series forecasts

Be able to use a computer program for time series forecasting applications

Readings

Introduction to Management Science, 11^th edition, by Bernard W. Taylor III. Pearson – Prentice Hall.

Chap 15

Forecasting

Topics in Forecasting

The following topics are included in summary notes for Module Two.

Module 2.1: Introduction to Forecasting

Module 2.2: Smoothing Methods

Module 2.3: Trend Projections

Module 2.4: Trend and Seasonal Components