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QM264 Introduction to Business Forecasting

Updated: 15 November 2011
Credit Points 6
Offering
Responsible Campus Teaching Period Mode of Study
Armidale Trimester 1 Off Campus
Armidale Trimester 1 On Campus
Intensive School(s) None
Supervised Exam There is a UNE Supervised Examination held at the end of the teaching period in which you are enrolled.
Pre-requisites 24cp and QM161
Co-requisites None
Restrictions QM230 or QM330 or QM364
Notes None
Combined Units None
Coordinator(s) Pauline Fleming (pfleming@une.edu.au)
Unit Description

Emphasis is on applications to business forecasting using real data sets (commodity prices, sales, stock exchange) in examples and exercises. Topics include: simple and multiple regression models; time series regression (ie trend and seasonal variation); decomposition methods; exponential smoothing; forecasting with Box-Jenkins models.
Prescribed Material
Mandatory 		Shrink Wrapped Package(s):

Note: Students are expected to purchase prescribed material

Business Forecasting
ISBN: 9314994201253
Hanke, J.E. and Wichern, D.W., Pearson 9th ed. 2009
Note: CD Minitab Release 14 for Windows included.
Text refers to: Trimester 1 , On and Off Campus
Disclaimer Unit information may be subject to change prior to commencement of the teaching period.
Assessment
Title Exam Length Weight Mode No. Words
Assignment 1 15%
Assessment Notes
Exercises. Word length not applicable due to statistical nature of the assignment.
Relates to Learning Outcomes (LO) and Graduate Attributes (GA)
LO: 1-4 GA: 1, 2, 4, 6
Assignment 2 15%
Assessment Notes
Exercises. Word length not applicable owing to the statistical nature of the assignment.
Relates to Learning Outcomes (LO) and Graduate Attributes (GA)
LO: 1-4 GA: 1, 2, 4, 6
Final Examination 2 hrs 70%
Relates to Learning Outcomes (LO) and Graduate Attributes (GA)
LO: 1-3 GA: 1, 2, 4, 6

Learning Outcomes (LO) Upon completion of this unit, students will be able to:
  1. identify what information is required to determine accurate forecasting;
  2. select and use an appropriate forecasting method for a particular planning problem;
  3. evaluate the quality of forecasts as an integral part of the decision-making process; and
  4. use MINITAB software package to generate forecasts.

Graduate Attributes (GA)
Attribute Taught Assessed Practised
1 Knowledge of a Discipline
This graduate attribute is central to the unit and embedded in the notes and readings, practised by the students in their computer exercises, and assessed in assignments and the exam. 		True True True
2 Communication Skills
The lectures and notes include instructions on how to examine forecasting problems and how to report the generated forecast. These skills are practised through computer exercises and assessed through assignments and the exam. 		True True True
4 Information Literacy
Students are taught to find and examine data, produce and interpret analytical results, and write up the result in the form of a report. These skills are practised during tutorial exercises and assessed in assignments and the exam. 		True True True
5 Life-Long Learning
Students are taught foundation principles which will be the basis for forecasting work in their future employment. 		True
6 Problem Solving
The notes, lectures and tutorials address the problem of how to achieve an optimum forecast method in the business situation. The assessment questions are designed to test the student's ability to solve such problems. 		True True True
7 Social Responsibility
This unit will teach and practise the ethical reporting of business forecasts in lectures and assessment questions. 		True True
   

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