2. Specify the mean absolute deviation (MAD) and mean absolute percent error (MAPE)

____ and ____%

(ii) Obtain the exponential smoothing forecast

The forecast for week 13 is ___

2. Specify the mean absolute deviation (MAD) and mean absolute percent error (MAPE)

____ and ____%

3. Based on MAD the best method is _____

Based on MAPE the best method is ______

A convenience store recently started to carry a new brand of soft drink. Management is interested in estimating future sales volume to determine whether it should continue to carry the new brand or replace it with another brand. The following table provides the number of cans sold per week. Use both the trend projection with regression and the exponential smoothing (let a = 0.4 with an initial forecast for week 1 of 610) methods to forecast demand for week 13. Compare these methods by using the mean absolute deviation and mean absolute percent error performance criteria. Does your analysis suggest that sales are trending and if so, by how much? 1 2 8 9 Period Sales 3 653 4 743 5 643 6 609 7 723 10 744 11 661 12 748 610 633 703 717 (i) Obtain the trend projection with regression forecast. The forecast for week 13 is (Enter your response rounded to the nearest whole number.)