4014SSL: You are required to use the following data set a monthly number of passengers carried by Ryanair 2014-2019: Business Analytics and Decision Making Coursework, HWU, UK

University Heriot-Watt University (HWU)
Subject 4014SSL: Business Analytics and Decision Making

For this individual coursework, you are required to use the following data set a monthly number of passengers carried by Ryanair 2014-2019.

  • Apply two methods a) Moving Average and b) Method of least squares for identifying the trend of data.
  • Experiment with two different forecasting models (Additive and Multiplicative).
  • Use your models to forecast the four quarterly figures for the year following the end of your data (2019).
  • Use Mean Squier Errors(MSE) and Mean Absolute Deviation (MAD) to compare your forecasts with the actual figures for that year (2019), which you have been given, and decide on the most appropriate forecasting model for your data.
  • Investigate and give a brief explanation of how clustering could be used as a part of your time series analysis. Write a well-structured report of your findings.

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