DEMAND FORECASTING

Demand Forecasting

Executive Summary

The usage of Tram in Melbourne city has common from last 25 years, and the consumption of its users positively increased. The services they provide to their passengers are well enough as compared to other vehicles. The data which has provided from the year 1987 to 2012 has effectual for researchers to analyze the forecasted values in Tram users. The dependent variable is estimated from last 25 years, and its relation has identified from various independent variables. The excessive increase in consumption of users has noticed, though the change in price and number of the population is also increase. The civilians of the Melbourne city utilize this Tram services because it is easily approachable and convenient in terms of fares. From the next 2 or 3 years we can identify the Tram users by using Time series method which is effective for examine the forecasted values. Through time series method, we analyzed that the dependent variable value in the next future years has increased, and the positive change has noticed in all the independent variables. With the change of time, the population is also enhance, and the civilians of Melbourne city has approach the Tram service because it's effective than the other vehicles or services.

Demand Forecasting

Background

The given data set has related to the excessive use of Tram that used by millions of passengers in Melbourne. The data has comprised from 1987 to 2012. From last 25 years, the sufficient use of Tram enhanced a new history in Melbourne city where millions of passengers has availed with this quick service. The data has based on dependent and independent variables which help to define the relationship between the variables that has collected for the purpose of Tram research and services that availed by the number of passengers in Melbourne city.

Task 2

Interpretation

The graph defines excessive use of trams in Melbourne city from 1987 to 2012. The usage has augmented according to the necessity of Tram because mostly passengers in Melbourne city has preferred Tram services rather than other vehicles. The reason behind that, it provide quick services and facilitate their passengers with all necessities. The fluctuation in values has noticed from last 25 years data of estimated boarding's that has affected by in 1993 - 1994 year, when several others independent variable has negatively affected the services of Tram. In 2003-2004, the graph has moved towards inclined position and the necessity and usage of Tram services has consistently increased. The trend line defines the excessive usage of Tram services, and it enhances the services in the future (Song & Chissom, 1993, pp.. 1-9).

Task 3

The number of boarding (in millions) of passengers onto Melbourne trams is the dependent variable which is totally dependent to several independent variables.

The graph defines the estimated boarding in million with the index number of transport fares that has increased from last 25 years. With the change in time, the fares of Tram has exceeded from last 25 ...