This course covers methods of collecting data, discovering data patterns, and selecting appropriate forecasting techniques. Time series and regression forecasting techniques are introduced.
For information regarding prerequisites for this course, please refer to the Academic Course Catalog.
Understanding and being able to forecast relevant business and economic variables are vital for decision makers in companies or governments. This course provides the most useful quantitative techniques in business and economic forecasting. Excel-Based ForecastX computer software is used.
Measurable Learning Outcomes
Upon successful completion of this course, the student will be able to:
- Integrate biblical principles within the field of economic and business forecasting. (PLO 1 introduced)
- Collect relevant data, discover data patterns, and select the best forecasting technique. (PLO 2 emphasized)
- Apply time series and regression forecasting techniques. (PLO 2 emphasized)
- Apply classification techniques. (PLO 2 emphasized)
- Use Excel-based ForecastX in data analysis, forecasting, and decision making. (PLO 3 emphasized)
Textbook readings and presentations
Course Requirements Checklist
After reading the Course Syllabus and Student Expectations, the student will complete the related checklist found in Module/Week 1.
Discussion Board Forums (8)
After reviewing the assigned textbook readings, and presentations, the student will post at least 2 points that he/she has learned from them and at least 2 questions that he/she may have. The student should respond to at least 2 of his/her classmates’ questions. The initial thread should be 150 words in length and is due by 11:59 p.m. (ET) on Thursday of the assigned module/week. Both replies should each be 50 words in length and are due by 11:59 p.m. (ET) on Monday of the assigned module/week.
Weekly Quizzes (8)
There will be 10 questions for each quiz. Each quiz must be completed by 11:59 p.m. (ET) on Monday of the assigned module/week.
Weekly Exercises (8)
For each assigned module/week, the student will complete specific questions found in the Exercises section at the end of the assigned chapter of the Keating and Wilson text. The student will submit his/her answers in Excel via the Weekly Exercises assignment link by 11:59 p.m. (ET) on Mondayday of Modules/Weeks 1–8.
The student will complete 4 exams based on the textbook readings. Each exam will consist of 30-multiple-choice questions and have a one-hour time limit. Each exam must be completed by 11:59 p.m. (ET) on Mondayday of the assigned module/week.