14Sep 2021 by
a. We settled on a data set pertinent to members (real estate).
b. Here is the link:
i. Real EstateEmployment, for all employment, for 10year cycle.
Select and analyze a database from the Bureau of Labor Statistics (BLS)website (http://www.bls.gov/). write an assessments (3 4 page in length).
use the proper forecasting technique based on your data(is it stationary, trend, cyclical, or seasonal)
Build a minimum of 4 forecast models. USE Excel, will needexcel sheet with the paper with forecast model. i have created 1 model 3 models needed. Excel sheet for each model like the 1st model have produced.
make sure you forecast out into the future
Use MSE to eliminate to single model
Use MAD and MAPE and provide simple explanation thatestablishes credibility of your forecast.. do not simply state my forecast hasa MAD value of ____
Use a graph to show actuals and forecast. Use varyinggraphical type to easily delineate between forecast and actuals. Make sure toinclude t+1, t+2, .. etc in your visual
provide critical thinking and explanation around time horizonof data use 10years and why?. Remember, if you have cyclical data, you need topan out.. look at wider time frame..
provide critical thinking on how events occurring aroundthe world may impact your forecast Highlight all the required sectionsoutlined above in your document
Use data set pertinent to (real estate).
Here is the link: Bureau of Labor Statistics Data (bls.gov) https://data.bls.gov/timeseries/CES5553100001?amp%253bdata_tool=XGtable&output_view=data&include_graphs=true
i. Real Estate Employment, for allemployment, for 10 year cycle.
Using data using the 4 models (MSE, MAD, and MAPE etc).
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