Forecasting Problem
Forecasting Problem
POM Software:
For this part of the problem I need to use the POM software:
1. Forecasting.
2. I should select Module->Forecasting->File->New->Least Squares and multiple regression
3. Use the module to solve the Case Study (Southwestern University). this case study, I am are required to build a forecasting model. Assume a linear regression forecasting model and build a model for each of the five games (five models in total) by using the forecasting module of the POM software.
4. Answer the three discussion questions for the case study except the part requiring me to justify the forecasting technique, as linear regression would be used.
Discussion Questions
1. Develop a forecasting model, justifying its selection over other techniques, and project attendance through 2007.
2. What revenues are to be expected in 2006 and 2007
3. Discuss the school's options.
Case Study (Southwestern University)
Southwestern University (SWU), a large state college in Stephenville, Texas, enrolls close to 20,000 students. The school is a dominant force in the small city, with more students during fall and spring than permanent residents. Always a football powerhouse, SWU is usually in the top 20 in College football rankings. Since the legendary Bo Pitterno was hired as its head coach in 1999 (in hopes of reaching the elusive number 1 ranking),attendance at the five Saturday home games each year increased. Prior to Pitterno's arrival, attendance generally averaged 25,000 to 29,000 per game. Season ticket sales bumped up by 10,000
Just with the announcement of the new coach's arrival. Stephenville and SWU were ready to move to the big time!
The immediate issue facing SWU, however, was not NCAA ranking. It was capacity. The existing SWU stadium, built in 1953, has seating for 54,000 fans. The following table indicates attendance at each game for the past 6 years.
One of Pitterno's demands upon joining SWU had been a stadium
POM Software:
For this part of the problem I need to use the POM software:
1. Forecasting.
2. I should select Module->Forecasting->File->New->Least Squares and multiple regression
3. Use the module to solve the Case Study (Southwestern University). this case study, I am are required to build a forecasting model. Assume a linear regression forecasting model and build a model for each of the five games (five models in total) by using the forecasting module of the POM software.
4. Answer the three discussion questions for the case study except the part requiring me to justify the forecasting technique, as linear regression would be used.
Discussion Questions
1. Develop a forecasting model, justifying its selection over other techniques, and project attendance through 2007.
2. What revenues are to be expected in 2006 and 2007
3. Discuss the school's options.
Case Study (Southwestern University)
Southwestern University (SWU), a large state college in Stephenville, Texas, enrolls close to 20,000 students. The school is a dominant force in the small city, with more students during fall and spring than permanent residents. Always a football powerhouse, SWU is usually in the top 20 in College football rankings. Since the legendary Bo Pitterno was hired as its head coach in 1999 (in hopes of reaching the elusive number 1 ranking),attendance at the five Saturday home games each year increased. Prior to Pitterno's arrival, attendance generally averaged 25,000 to 29,000 per game. Season ticket sales bumped up by 10,000
Just with the announcement of the new coach's arrival. Stephenville and SWU were ready to move to the big time!
The immediate issue facing SWU, however, was not NCAA ranking. It was capacity. The existing SWU stadium, built in 1953, has seating for 54,000 fans. The following table indicates attendance at each game for the past 6 years.
One of Pitterno's demands upon joining SWU had been a stadium