DATA COLLECTION: Students need to collect monthly or quarterly data for a time series variable (variable with observations collected over time). Data needs to be collected for two comparable investigation units (objects of study chosen for this research) from the tourism industry, for example number of visitors to two tourist attractions, number of tourist arrivals in two cities or two regions, number of passengers flying with two airlines or arriving at two airports, etc. The appropriate data can be found on the Internet, for example on websites of particular cities, tourism associations, governments, etc. The data collected for the investigation units must be comparable, especially with regards to: • the same currency (as one cannot compare so easily a revenue measured in $ to a revenue presented in €); • the same time units (one cannot compare so easily the data collected once a month with the quarterly data); therefore the data collection process should be planned carefully. IMPORTANT: • The data sets used in class in Excel workshops cannot be used for the project. • When collecting the data, look for variable collected quarterly or monthly, with seasonalities, so that the additive and the multiplicative models can be used for forecasting. DATA ANALYSIS AND FORECASTING: After the data collection process is finished, students will conduct analysis of data collected, with presentation of time series data on appropriate diagrams, evaluation of variable development over the time, calculation of basic summary statistics for central tendency and spread and estimation of forecasts (based on approaches presented in class), for the variable and investigation units chosen. 3. COMPARISON OF RESULTS: After completing the examination of the two investigation units, students must compare the results and evaluate the business situation in the industry/field of study being analysed in the project (for example what is the current situation in the tourism industry in the countries analysed, which of the tourist attractions/cities analysed attract more visitors and why, etc.). 4. SUMMARY REPORT: Students need to prepare a report showing the outcomes of their analytical work.