Assignment Instructions Course Objective: This assignment covers Learning Objectives 1, 2, 3, and 5 for Option 1, and 1, 4, and 5 for Option 2. Instructions: This is a team assignment. Please only choose ONE of the following options. The rubric used for grading is attached.

Option 1 Prepare a 5-6 page report (excluding the cover page, the reference page, and any tables and graphs), which describes the uses of business forecasting. You need to include at least one real world example and apply at least two different methods of forecasting presented in Chapter 5. Please present both your raw data and your two numerical forecasting results from your two chosen forecasting methods. APA format and appropriate use of section headings are required. Hint: You need to collect at least one data series for your analysis in this assignment. Please include the name and the exact formula or Excel/QM function/output of each forecast method you applied to your analysis. For example, if you find GDP data from year 2000 to 2011, then you need to forecast the GDP in the next period, i.e. 2012. You need to select two different forecast methods. For each method, you need to provide the name of the method and your numerical forecast together with the formula or program output you used to get that number. (A verbal description by itself will not receive any credits. Please copy and paste in or attach your Excel Worksheet, which is a must to receive credits for statistical analysis.) Finally, please present your raw data either in a table or a graph. A graph is preferred as you can also illustrate how well your forecast may fit into the actual series. You do need to analyze your own data and cannot simply cite the statistical result published else where. The following video shows of an example of using Excel QM for forecasting. Here are two links you may use to get the data: the Bureau of Economic Analysis and U.S. Bureau of Labor Statistics. Please check the basic APA format checklist posted in the Announcement and the grading rubric for writing assignments in the syllabus before you submit this assignment.

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Option 2 Prepare a 5-6 page report (excluding the cover page, the reference page, and any tables and graphs), which describes the uses of business inventory control. You need to include at least one real world example and apply at least one inventory control method discussed in Chapter 6. Please use a flow chart to present your final findings. You may use hypothetical numbers to illustrate your analysis if you cannot find the actual data. However, you have to use some number to demonstrate your ability to apply your chosen inventory control model to a real world situation. APA format and appropriate use of section headings are required. Please copy and paste in or attach your Excel Worksheet, which is a must to receive credits for statistical analysis. You do need to analyze your own data and cannot simply cite the statistical result published else where. Please check the basic APA format checklist posted in the Announcement and the grading rubric for writing assignments in the syllabus before you submit this assignment. You may also find the discussion at Discussion Post 5a quite helpful, too. Link on steps to apply ABC analysis: http://chandoo.org/wp/2014/10/01/abc-inventory-analysis-using-excel/ Attached also is a word document containing Walk through steps to apply ABC analysis. Here is also a video for visual demonstration Submit Assignment 1 by midnight, Day 7. Writing 1 5% of the course grade Grading Rubric A rubric is provided here for your convenience that details how this assignment will be graded. Please review it carefully prior to submitting your work.

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Supporting Materials ABC_Analysis_Excel_new2.doc (481 KB)