The subject of chapter 6 is demand forecasting. Using data from the National Statistics web site, Shabbar Jaffry and Frank Asche provide a step-by-step guide to constructing a model of demand and estimating its equation using the multiple regression procedure in the Excel spreadsheet. They explain how the estimated equation can be interpreted and how to use it to forecast future demand, using alternative assumptions about the movement of key variables. The chapter ends by explaining how to monitor the performance of a forecast.
|Title of host publication||Essential data skills for business and management|
|Editors||S. Hurd, J. Mangan|
|Publisher||Statistics for Education|
|Number of pages||12|
|Publication status||Published - 12 Jul 2001|