Question: 4. (SHOW YOUR COMPLETE WORK) The actual demand data over the past six months for a new product are shown helow: a. Plot the monthly

4. (SHOW YOUR COMPLETE WORK) The actual demand
4. (SHOW YOUR COMPLETE WORK) The actual demand data over the past six months for a new product are shown helow: a. Plot the monthly demand data using a software OR on a sheet of graph puper. [4 points] b. Use TREND PROJECTIONS method to determine the cquation of the trend line estimating the linear relationship between time (in months) and demand (in anits sold). [21 points] c. Use the equation of the trend line to predict demand for THIS MONTH. [2 points] (Hint: 'Six months ago' will have a value of ' 1 ' in the equation of the trend line, and by the same logic 'One month ago' will have a value of ' 6 ' in the equation of the trend line.) Use the appropriate labelunit of measurement in your atnwers, Leave she mambers in decimals and go up to 5 decimal places for higher accaracy. 5. (SHOW YOUR COMPLETE WORK) Two independent forecasting methods I and 2 have been used each month for the past six months. The actual demand and demand forecasts from these two prathode are showsen holow a. Calculate the Mean Absolute Deviation (MAD) measures for forecasting methods I and 2. Which forecasting method is better based on MAD? [10 points] b. Calculate the Mean Squared Error (MSE) measures for forceasting methods 1 and 2. Which forecasting method is better based an MSE? c. Calculate the Mean Absolute Percent Error (MAPE) measures for forecasting methods 1 and ? Which forecasting method is better based on MAPE? [23 points] Use the appropriate labeliunit of measurement in your answers, Leave the numbers in decimal and go up to 5 decimal places for higher acruracy

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