Forecasting Application

 This assignment requires the professional application of each of the following quantitative methods techniques to your workplace or a personal situation.  To earn an excellent grade, each application needs to be sophisticated and exhibit a professional presentation.  A higher grade will be awarded to applications with higher levels of sophistication and detail.

In addition, please provide a one paragraph description of each application and a one paragraph conclusion to each application.  A professional presentation should include your worksheets, QM for Windows/Excel printouts/screenshots and any other evidence of your calculations and analysis (feel free to provide these as screenshots).  These applications all need to be new and your own creative work.  Lastly, feel free to create the data to develop your application.

The following are the quantitative techniques you will need to provide:

  1. One decision theory application – include maximax, maximin, Hurwicz criterion, laplace, and minimax.
  2. One seasonal forecasting application (Seasonal Variation Model)
  3. One PERT/CPM application (include cost budgeting)
  4. One multivariate simulation model

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