Objective and Steps:
- Pick an econometric business topic to forecast (e.. the revenue in the next 8 years of xx industry)
- Gather data that needed for this forecast. Do a visualization of it.
- List the issues and problems of the data
- What data is needed but can’t find it
- Investigate whether a linear extrapolation or a linear regression model is the best tool. Estimate the model and create a forecast for the next 8 periods.
- Discuss the properties of the forecast: how much does you trust this forecast? Choose an investment decision based on the forecast: Would you heavily reply on it or be wary of the results and more cautious with respect to the decision?
It doesn’t have to a paper. Can be just sentences.
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