Business Forecasting (6396.5)

Availability

Availability

This unit is no longer offered. Information may be available for Units in the following years:

• Version 1 - Start Date: 21/07/2004 End Date: 31/12/2006
• Version 2 - Start Date: 01/01/2007 End Date: 31/12/2008
• Version 3 - Start Date: 01/01/2009 End Date: 31/12/2012
• Version 5 - Start Date: 01/01/2015 End Date: 31/12/2015
• Version 4 - Start Date: 01/01/2013 End Date: 31/12/2014

Syllabus

This unit explores the process of Business forecasting. Forecasting is necessary for individuals and businesses to make plans for the future and take decisions in an uncertain environment. Students will be introduced to various time series forecasting methods and procedures that will be useful in the prediction of key variables.

Learning Outcomes

DESCRIPTION:

1. Upon successful completion of this unit, students will be able to: Analyse the nature of forecasting problems in a business and economic environment and why a forecast is needed;

2. Critically compare and contrast types of data patterns using graphical summaries;

3. Distinguish between different forecasting methods and the tasks for which they can be used; and

4. Apply simple forecasting techniques using some basic software.

Contact Hours

3 hours contact per week.

Prerequisites

8732 Problem Analysis and Statistics and 8730 Problem Evaluation and Resolution

Corequisites

None

Assumed Knowledge

Basic Statistics

Incompatible Units

None

Equivalent Units

None