A contractor wants to forecast the number of contracts in future quarters,using quarterly data on a number of contracts over the last 10 years.Which of the following would be the most appropriate analysis to perform?
A)Autoregressive modeling
B)One-way ANOVA
C)Least-squares forecasting with monthly or quarterly data
D)Two-way ANOVA

Question

Quizplus · Accepted Answer

Since the contractor wants to forecast the number of contracts in future quarters, the most appropriate analysis to perform would be a forecasting model. One popular method for forecasting is least-squares, which can be done with monthly or quarterly data. Autoregressive modeling is a method for modeling time-series data, and one-way ANOVA and two-way ANOVA are methods for analyzing variance between groups. While these methods may be useful in other contexts, they are not appropriate for forecasting the number of contracts in future quarters.

A Contractor Wants to Forecast the Number of Contracts in Future