Download files: https://people.highline.edu/mgirvin/AllClasses/348/348/AllFilesBI348Analytics.htm
Review the four basic forecasting methods we learned last video with a new data set:
1) (00:10) Intro to new data set that looks like a horizontal time series that has a jump to a new level.
2) (00:35) Naïve Method or Most Recent Method for Forecasting and calculating Mean Square Error for Forecasting.
3) (02:48) Average Past Values for Forecasting and calculating Mean Square Error for Forecasting.
4) (04:52) Moving Average Method for Forecasting and calculating Mean Square Error for Forecasting.
5) (06:32) Exponential Smoothing Method for Forecasting using Smoothing Factor Alpha, and calculating Mean Square Error for Forecasting.
Download Excel File Not: After clicking on link, Use Ctrl + F (Find) and search for “Highline BI 348 Class” or for the file name as seen at the beginning of the video.
