Week 4: Simple forecasting methods
What you will learn this week
- Forecasting workflow
- Four benchmark forecasting methods that we will use for comparison
- Linear trends, dummy seasonality
- Forecasting with transformations
- Forecasting with decompositions
Pre-class activities
- Read Chapter 5 of the textbook, Sections 5.1 – 5.3, 5.6 – 5.7, and watch all embedded videos
- Read Chapter 7.4 of the textbook, and watch the embedded video
Monday lecture
Tuesday workshop
Exercises (on your own or in tutorial)
- Complete Exercises 1-5, 11 from Section 5.11 of the book.
- Complete Exercises 2 and 6 from Section 7.10 of the book.
Assignments
- Assignment 1 is due on Monday 24 August.