The Eight Step Process to Forecasting Model

In comparison to televised and electronically viewer counts, the numbers of live attendance drastically reduced, despite one of America’s major pastimes being attending sporting events (Zillmann np). Furthermore, during the 1999 Fiesta Bowl Championship game between the University of Tennessee and Florida State University, 80, 470 fans in attendance made for a record

Critically evaluate the assumptions on which your forecasts are based. What developments could alter your results? Is Mr. Cowins correct in his belief that Hampton can repay the loan in December?

“Sunny and 75 with bright blue skies today is a great way to start off the college football season”, says a sports analyst on the tv from a tent in the tailgating section. Walking down the strip peeking through the trees seeing a glimpse of the arena reminded me of a modernized colosseum. Approaching the main entrance greeted by a metal statue and a stadium with a dark shade of brick with countless of doors and glass windows. Many Lovie Smith propaganda is seen around the stadium along with the array of Illinois gear. “Welcome to Memorial stadium, it’s game day for your Fighting Illini”, said the announcer. My stomach dropped for the fact that college football is officially back.

There is a surprising link between sports analytics and several topics we have discussed in class. Those including, the gathering of weather data, predicting hurricanes, tsunamis etc. Many scientists use analytics on a daily basis to predict weather patterns and to compare data. Just like in sports analytics, the use of numbers and statistics can be used to solve potential trends and to analyze the topic at hand. The concept of analytics is relevant in both sports as well as in scientific studies.

Southwestern University: F The recent success of Southwestern University’s football program is causing SWU’s president, Joel Wisner, more problems than he faced during the team’s losing era in the early 1990s. For one thing, increasing game-day attendance is squeezing the town of Stephenville, Texas and the campus. Complaints are arising over parking, seating, concession prices, and even a shortage of programs at some games. Dr. Wisner, once again, turns to his stadium manager, Hank Maddux. This time, he needs a guaranteed revenue stream to help fuel the stadium expansion. One source of income could easily be the high-profit game programs. Selling for $6 each, programs are a tricky business. Under substantial pressure from

Financial forecasting is such an integral part of any successful start up business and there are major issues with the way it has been done.

Analyzing the company’s performance compared to its historical figures is always useful; nevertheless, these historical figures can be also a very useful tool to forecast future ProForma figures. We usually start by forecasting future sales (based on an average increase in sales figure) and other balance sheet and income statement items are forecasted as percentage of sales, this percent is normally consistent from historically figures. A close look should be given to the company’s operations and plan for the coming year while making our assumptions and forecasted figures. Normally we should follow

For both financing alternative, develop a model that shows forecasted revenues, expenses, profits, and free cash flows generated by Harmonic in years one through seven.

To start with, the 1st model used is regression line method. According to this method, the technique fits a trend line to a series of historical data point and the projects the line into the future for medium to long range forecasts

3. When a new business is started, or a patent idea needs funding, venture capitalists or investment bankers will want to see a business plan that includes forecast information related to a profit and loss statement. What type of forecasting information do you suppose would be required?

I choice to use the Seven Step Model of a Decision-Making Model for Resolving Ethical Issues in order to define what is ethical in this case study.

The procedure for this model is to collect several periods of history relating to the independent and dependent variables themselves, establish the relationship that minimizes mean squared error of forecast vs actual using linear or non-linear and singular or multiple regression analysis.

Define the core interests/incentives of key actors in the forecasting process and identify the most pressing alignment needs/priorities among key actors?

Problem: Southwestern University is experiencing a quickly expanding football program. As a result, attendance for home games is increasing and approaching capacity. It is in the best interest of SWU to forecast attendance to aid them in deciding when the best time to expand the present stadium, which now holds 54,000.

Business forecasting is the process of studying historical performance for the purpose of using the information gained to project future business conditions so that decisions can be made today that will assist in the achievement of certain goals. Forecasting involves taking historical date and using it to project future data with a mathematical model. Forecasts are extensively used to support business decisions and direct the work of operations managers. In this paper I will introduce different types of forecasting techniques.