Develop a forecasting model, justifying its selection over other techniques, and project attendance through 2007.

Bsop330 week 2 grasp planning task 1 southwestern college

I might counsel utilizing a time-series forecasting mannequin to mission attendance by 2007. This system is well-suited for this job as a result of it takes into consideration the historic knowledge of earlier years and makes use of that info to foretell future values. Additionally it is capable of seize any cyclical patterns within the knowledge, which can be current if attendance varies seasonally or with sure holidays. Different methods resembling regression evaluation might present helpful insights however can’t account for these long-term traits in attendance just like the time collection mannequin can. Utilizing this method, I might mission a rise in attendance every year till 2007 primarily based on the development of accelerating guests from 2003-2005.