Answer to Question #345418 in Statistics and Probability for Thapelo nailana

Question

Test the forecasting ability of your chosen model. For yearly data use 4 years, for quarterly data use

one year Q1 to Q4.

5.1 Present the results of your forecast using a graph and a table that has 3 columns ( Actual values,

Forecasted Values , Percentage difference)

5.2 Do a 2 year forecast for yearly data and a 1 year forecast for quarterly data for your variable and

comment on the forecast as an economic advisor on policy (NB this is now forecasting outside the data

points you have, based on the fact that you already proved in 5.1 that your model can make good

forecasts .

Answer 1

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