The VP of admissions at SWC knows from past experience

The VP of admissions at SWC knows from past experience how many of the students that apply to the school will actually end up attending and generating revenue (the “conversion rate”). However, it is always a guess as to how many students will end up applying each year, so projecting revenue and expenses is difficult. The VP would like a systematic way to predict applications for next year based on the number of applications in years past. The VP would like you to present at least three different methods to predict applications for next year, along with at least two ways to determine which prediction method is best. Which method would you recommend? Why? The number of applications received in previous years is found in Tab 1 of the Excel file “Case 3 Data which is listed below methods can be any used in forecasting, qualitative or quantitative and choosing can be MSE, MAD, or MAPE

Year Applications
2009 803
2010 877
2011 942
2012 863
2013 937
2014 1054
2015 922
2016 976
2017 1103
2018 1351
2019 907
2020 1322

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