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The attached excel file has two sets of data. First, a set of

monthly sales. Second, some EOQ inventory data. Your

assignment has two parts.

$(20$ points$).$ Use the sales data to develop a forecast for period

$25$ that you feel best represents the data. You can use any of the

tools included in Chapter $4.$ You should also provide supporting

information on forecast error that shows why you think your

forecasting method is best. You likely will want to present a few

forecasting methods and then show me why your recommended

method is best. If you are using exponential smoothing, the initial

forecast for period $1$ was $29,000.$ That will allow you to start the

smoothing process.

$(10$ points$).$ Utilize the EOQ model to recommend a number of

items to order each time. Also provide a summary of the following

equation: Total Inventory Costs $=$ Total Ordering Costs $+$ Total

Holding Costs. Submit the solutions as an excel file.

Forecasting and inventory$\_$problem.xlsx