Topic: Decision Analysis
Question: You are given a time series data set for the number of domestic passengers served by the San Francisco International Airport.
1. Plot the time series. (In Excel, first highlight the data, then on the "Insert" tab, select "line graph"). Describe what you see.
2. Based on your observations of the graph, what will be your strategy to forecasting the number of passengers served by the San Francisco Airport for the next 12 months? In other words, what data will you use and what time series components will you model? What is the basis for your decision?
3. Compute the forecasting model.
4. Compute the Mean Absolute Deviation for your forecasting model.
6. Make forecasts for the next 12 months.
7. Write an executive summary addressed to the director of the San Francisco Airport. You must follow this format, i.e., clearly show your response to each item.
Synopsis/Executive summary
State the purpose of the analysis.
Describe the data used in the analysis. Explain why the data was selected.
Summarize the time series components that were used in the forecasting model.
Show the forecasting model. Report the error/irregular component.
Show the forecasts for the next twelve months.
Note any assumptions you made.
Attachment:- Assignment.rar