PROJECT
Situation:
You are an officer in a rapidly growing fast food company. The company is looking to break into new Markets in Metropolitan Statistical Areas (MSA's) in the United States. Your job is to determine a rapidly growing MSA and recommend it as a prime location for new restaurants.
Under MSA, examine the MSA's beginning with the letter(s):
Choose 5 of the MSA's
Using techniques we will learn in Chapter 5, you will predict the population for each MSA in 2016 and determine the percentage increase over the 2015 value. Your recommendation will be based on this. More details later, after we cover chapter 5.
Your proposal should rehash this, and include your 5 selected MSA's
Predict the 2016 value using:
1: a five year moving average
2: a ten year moving average
3: exponential smoothing, with the best alpha used
4: simple linear regression
5: the naive method
For each prediction, compute the percentage increase over the 2015 value
Evaluate the predictions using the MAD, and choose the best method.
The Best site is the one with the highest percentage increase, derived from the best method. Which MSA do you choose and why?
Attachment:- Download Population Data.rar