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Q. In 2009, the board of regents responsible for all public higher education funding in a large Midwestern state hired a consultant to develop a series of enrolment forecasting models, one for each college. These models used historical data also exponential smoothing to forecast the subsequent year's enrolments. Depended on the model, which comprised a smoothing constant (α) for each school, each college budget was set by the board. The head of the board personally selected each smoothing constant depended on illustrate what she called the "gut reactions also political acumen"
a. Illustrate what do you think the advantages also disadvantages of this system are? Answer from the perspective of
i. The board of regents also
ii. The president of each college.
b. Explain how can this model be abused also illustrate what can do done to remove any biases?
c. Explain how can a regression model be used to product to produce results which favour over another?
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