Forecasting and business analysis - Assignment Example

The feasibility study concludes that Tribeco would benefit by expanding to Adelaide market. Expansion of business activities to other market area is a challenge that needs proper assessment and forecasting. Tribeco needs to get feasibility study of Adelaide market to assure them of profitability if they invest. As the name suggests, a feasibility study is an investigation of the practicality of an initiative. The feasibility study concentrates on assisting answer the essential query of whether a corporation should proceed with the planned project idea.

All practices of the research are directed toward assisting answer this question. Feasibility analysis can be utilized in many approaches but primarily concentrate on proposed business project. For this study, RGRT, AWE and UR are essential for this study since they provide the summation needed to make a conclusion concerning the expansion idea. This paper illustrates methods of forecasting study applying regression of a given dataset. The method of forecasting employed is checked for the statistical significance of the regression model.

It is important that the model must be significant in order to create a relevant and effective analysis (Shim and Siegel, 2007).  Recreational Good Retail Turnover (RGRT) concerns the sale of products that are not essential for life. Recreational goods are not usually fundamental to life, and could be offered as Christmas or other holiday’s presents. When a region has a high RGRT rate it indicates other essential needs are equally well taken care of. Average weekly earnings (AWE) are indicators of short-term earnings expansion giving monthly estimates of the stage of average weekly earnings per individuals.

AWE substituted AEI (Average Earnings Index) in 2010. AWE measure was recognized as a National Statistic in 2010 and, as a result, it replaced the NAE (National Average Earnings) Index as the heading