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How do you make a time-series forecast method?
I have to do a project on Meriwell Bag company and one of the questions is asking for me to develop and justify a forecasting method for the companies specifications. From what I read of their specifications which include a desire for stability as that is what their company and customer base has been, want to track the number of bags sold during the holidays so there is a seasonal factor here, anticipate future growth of customers and they want a method that works with their aggregated demand. I read back in my textbook over several types of forecasting methods and fond the time-series method, however my book only goes as far as to show and talk about the decomposition of time-series data over time. So I was wondering if anyone had a clue as how to go about making a chart or something for the times-series method. I'm sure I can justify why this method is the best. I just need to know how to make the chart or whatever is required to develop it. I did email my teacher, but no answer yet.
2 Answers
- Gul'danLv 41 decade agoFavorite Answer
I may not understand precisely what you mean, but if you're trying to take a time series model and output a line graph for the forecasting, you may want to look at R - it's a language like matlab that has a lot of time-series-based keywords.
This is the site for the program I used in my time series class: cran.r-project.org
You should be able to make any chart you want.
- Anonymous5 years ago
the time series data on the under forecast are used to fit a trend line or curve either graphically or through statistical method. the trend line is worked out by fitting a trend equation to time series data with the aid of an estimation method