- [Instructor] One of the applications used in this course is R, so I want to show you how to download and install it. I'm going to download the version 3.4.0 for Windows, in part because I'm using a Windows machine, and if you're using a Mac, you'll probably wanna look through R's FAQs for the Macintosh. We are using version 3.4.0 rather than the most recent version of R because there is some issues involved with one of the packages that we want to use.
Once I've downloaded R-3.4.0 for Windows, I'll click on the downloaded file to initiate the installation. I'm gonna follow through the wizard and make sure it all installs properly. Going to install just the 64-bit files. And I'll accept the default selections. And clicking finish.
At this point, we have R actually installed and running on the machine and we need to download and install a couple of additional packages. I can do that by using the packages menu and then choosing set CRAN mirror. We're going to use a mirror that's located in California, and we click OK. Now with that chosen, we can actually choose the packages to download. We'll click the packages menu and choose install packages.
This is a very long list, so it can take a while to scroll through. We're looking for DescTools, D-E-S-C T-O-O-L-S, and we click OK. Now you're going to get this if your security provisions on your machine prevent you from writing to the library that R prefers to use. In that case, you can choose yes in answer to this question and R will set up a personal library where you are not restricted from installing a new package.
You can at this point click yes and yes. At this point, you have installed the DescTools package. We also need the forecast package. So we install packages, and we scroll down to forecast and there it is, click on it, and click OK.
As soon as R finishes unpacking these components, everything is installed and you're ready to get started with the course.
- Identify what distinguishes seasonality from a trend or a cycle.
- Explore how to use absolute and relative references in defined names, and recall that absolute reference always remain static while relative references change depending on precedent.
- Identify seasonality in a baseline by examining autocorrelation functions in a correlogram.
- Explore how to initialize seasonal effects in a baseline.
- Forecast the current level of the baseline and the current seasonal effect from prior observations, forecasts, and smoothing constants.
- Quantify a measure of the aggregate error in a forecast, and minimize it using Solver.
- Establish a baseline in a data object and forecast from that baseline in R.
- Compare Excel and R results.