Question: A textbook publishing company has compiled data on total annual sales of its business texts for the preceding nine years: Year Sales (000): 1 37.00

A textbook publishing company has compiled data

A textbook publishing company has compiled data on total annual sales of its business texts for the preceding nine years: Year Sales (000): 1 37.00 2 44.00 3 49.70 4 52.60 5 56.10 6 57.20 7 62.30 8 69.70 9 71.90 Click here for the Excel Data File a. Using an appropriate model, forecast textbook sales for each of the next five years. (Round your intermediate calculations to 3 decimal places and final answers to 2 decimal places.) Year 10 11 12 13 14 Forecast b. Compute +/- 2s control limits for the control chart for forecast errors using just data from the original nine periods. (Round your intermediate calculations to 4 decimal places and final answer to 2 decimal places.) Control limits are 0 + c. Suppose actual sales for the next five years turn out as follows: Year Sales (000): 10 79.50 11 81.90 12 87.40 13 91.00 14 98.80 Is the forecast performing adequately? O No O Yes

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
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!