Task:
(a) Experiment with the different forecasting methods discussed in class (moving average, weighted moving average, Exponential smoothing, Seasonal variation in data, Exponential smoothing with trend (Holts method) Trend projection) to come up with “the best” forecast for the daily passenger arrivals at the West concourse at Gotham for each time period for July of year 4. Explain why do you think it is the best. (30 marks)
b) Lookup an additional forecasting method we did not talked about in class and use it to forecast the daily passenger arrivals at the West concourse at Gotham for each time period for July of year 4. Alternatively, search for some free forecasting software available and use it to make a forecast for each time period for July of year 4. (20 marks)
(c) Do something to make your case standout. Additional analysis/insight, combining methods, illustrations, etc. (10 marks)
