Question: Q1. Forecast for period # 13 using the three methods as shown in the table below. Find MAD and MAPE for each method. Which method

Q1. Forecast for period # 13 using the three methods as shown in the table below. Find MAD and MAPE for each method. Which method is giving you the forecast? Why?

Period Y 24 25 27 24 20 21 23 28 24 26

Q2. The average selling price and sales for the last six periods is shown below. Use regression analysis to forecast sales for the next period with 99% confidence assuming a selling price of $11. Is your model significant?

24 29 |1 2 13 14 6 7 8 19 Sales 10

Period Y 24 25 27 24 20 21 23 28 24 26 24 29 |1 2 13 14 6 7 8 19 Sales 10 11 12 Results Four period Simple Exponential Smoothing Nave Method Moving Average Method Alpha=0.7 Forecast-Average Sales Forecast Error Error Forecast Error %Error Forecast Error Error Y cap Y -YI cap 25.000 5.000 24.000 3.000 23.000 0.000 22.000 6.000 23.000 1.000 24.000 2.000 25.250 1.250 25.500 3.500 25.750 2.719 Forecast MAD Y -Y APE Y cap cap 24 1.000 24.700 2.300 26.310 2.310 25.000 24.693 4.693 14.286 21.408 0.408 0.000 21.122 1.878 21.429 22.437 5.563 4.167 26.331 2.331 7.692 24.699 1.301 5.208 25.610 1.610 12.069 24.483 4.517 11.231 27.645 2.537 MAPE Forecast MAD APE Y cap Y-Y cap APE 4.000 24.000 1.000 8.519 25.000 2.000 9.625 27.000 3.000 23.465 24.000 4.000 1.942 20.000 1.000 8.164 21.000 2.000 19.869 23.000 5.000 9.713 28.000 4.000 5.003 24.000 2.000 6.707 26.000 2.000 15.576 24.000 5.000 10.235 29.000 2.818 MAPE Forecast MAD 4.000 7.407 12.500 20.000 4.762 8.696 17.857 16.667 7.692 8.333 17.241 11.378 MAPE Price Sales 10 23 28 24 26 24 29 18 19 8 11 18 Forecast Error Abs IAPE Error 10.091 -0.091 0.091 00.91 8.045 -0.045 0.045 00.57 9.682 -0.682 0.682 7.58 8.864 -0.864 0.864 10.8 9.682 1.318 1.318 11.98 7.636 0.364 0.364 4.55

Step by Step Solution

★★★★★

3.45 Rating (158 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Lets address each question step by step Q1 Forecast for Period 13 and Evaluate Methods 1 Using the Forecasting Methods FourPeriod Simple Moving Averag... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Loki Company has 10 000 shares of ordinary shares outstanding at a market price of R55 a share. The firm also has a bond issue outstanding with a total face value of R250 000 which is selling for 105...

Use regression analysis to determine the trend line. The revenues (in $millions) of a chain of ice cream stores are listed for each quarter during the previous 5 years. Year Quarter 2012 16 25 31 24...

Use regression analysis to answer the following questions. a. Fit a linear trend model to the data set. What is the estimated regression function? b. Interpret the R2 value for your model. c. Prepare...

please check the instruction and then help me with this assignment. Form 1040 2015 (99) Department of the TreasuryInternal Revenue Service U.S. Individual Income Tax Return OMB No. 1545-0074 , 2015,...

Please see attachment. All three question need to be answered in narrative format. If you have questions, just let me know. Normal requirement for references are 2 outside our course text....

I'm in serious need of help in my accounting class (acc205) . I'm falling behind and I need help with this weeks assignment. for week three for the may-june month . can someone please help me ....

I have questions on "Chapter 17 Time Series Analysis and Forecasting. The questions is in the attachment; that are problem number 29 and 30 (it is on last three pages, not the multiple choice...

CHAPTER 17TIME SERIES ANALYSIS AND FORECASTING MULTIPLE CHOICE 1. Which of the following is not present in a time series? a. seasonality b. operational variations c. trend d. cycles ANS: B PTS: 1...

Cutting Edge This case was adapted from Hiller, Frederick S. & Mark S. Hillier (2014). Introduction to Management Science: A Modeling and Case Studies Approach with Spreadsheets, 5th ed.,...

1. What are the basic benefits and purposes of developing pro forma statements and a cash budget? What are the pitfalls in the process? How do you think you could avoid these pitfalls? 2. What effect...

a. Find the general traffic pattern of the freeway network shown in the figure. (Flow rates are in cars/minute.) b. Describe the general traffic pattern when the road whose flow is x5 is closed. c....

Sanderson Mart ran an advertisement in the Daily Tribune that stated, "Special offer to our customers - 3/8 inch Electric Hand Drills, Saturday only - $14.99, only 100 in stock, while they last! Be...

Which model of community supervision officer operation is recommended by the text? Group of answer choices needs determination model social science model social casework model social reintegration...

Explain what CBIS (computer based information systems) is!

How is the ERP system in the company?

PT ACCESSORY is a company that manufactures mobile accessories, namely: USB data cable, power bank, and stick for taking a photo. The company operates in a monopolistic market. The manager of PT...

Let a and b be two positive real numbers. Prove that their Harmonic Mean Geomatric Mean.

Write a program that calculates the performance-based salary of customer support representatives (CSRs) in an organization: 1. csrID (Customer support representative ID): An array of seven strings to...

Diseo de estrategia para abordar los siguientes desafos en una clnica de hemodilisis. Transformacin digital. Personal especializado. Adaptacin a cambios regulatorios. Bienestar y compromiso....

Question #3 . Forecast for period # 13 using the three methods as shown in the table below. Find MAD and MAPE for each method. Which method is giving you the best forecast? Why? Four period Simple...

FC.73 Ties at BYU-Idaho have become very popular since Tie the Knot, an IBC company, has started operations this semester. Sales have consistently increased during the weeks and the company wants to...

Return Predictability along the Supply Chain F.AJ inancial Analysts Journal Volume 66 . Number 3 @2010 CFA Institute these two studies were based on the idea that the 2007, the last month for which...

Developments in Technology Light is incident from air on the end face of a multimode optical fibre at angle of incidence as shown below. n n 1 2 The refractive indices of the core and cladding are...

Problems 3,4,5 In Problem 5, you need to calculate MAD and MSE for EACH of the three forecasts and compare which is better. Please submit the Excel file and clearly label each problem. 2. The rate...

i will add few pictures, those are the examples of that assignment. Professor left has a reference, please follow those images as a reference and complete the assignment asap. Instructions Complete...