Interactive Management Science

Forecasting This module implements six widely used forecasting techniques (last value method, averaging method, moving average method, exponential smoothing, exponential smoothing with trend, and linear regression). After entering the data (seasonally adjusted if necessary), the module also enables you to see immediately how changing any data point affects the forecasts. (Note: The "exponential smoothing" and "exponential smoothing with trend" methods implemented here use the initial data points to make the initial estimates for the time series and so obtain slightly different forecasts than if the initial estimates were inputted prior to collecting the data.) You may need to install the latest Java Runtime Environment to run this module.

Instructions: 1. Select a forecasting method. 2. Click cells in the second column, input positive decimal numbers (for "Simple Linear Regression" method, input data in both first and     second columns. 3. Press the Forecast button to get the forecasting result. 4. Move your mouse onto a blue dot, then drag it vertically to see the effect of forecasting with the change of original data. 5. Press the Reset button to go back to the original problem. Note: 0 is NOT taken as valid data.