Question: ASSIGNMENT 1 Case Study 1 : Forecasting Pantene Shampoo Sales at Nester's Market Midterm Practice - Solve this problem using pen / pencil / calculator

ASSIGNMENT 1 Case Study 1: Forecasting Pantene Shampoo Sales at Nester's Market Midterm Practice - Solve this problem using pen/pencil/calculator As a student in BUS 373, you have been hired as a Data Analyst for Nester's market at SFU campus. Your task is to determine the appropriate quantity of Pantene shampoo to order for Year 2025. The store has provided you with historical yearly sales data for the product. Your job is to anal' Deliverables: 1. What is the underlying pattern of this demand data? How will this pattern inform your forecasting decisions? 2. Evaluate Nester's current forecasting method, which uses a two-year moving average of sales to estimate sales for the following year. Using this method, estimate sales for the year 2025.3. Suggest an alternative forecasting method that would be more appropriate for estimating Pantene shampoo sales for the given time horizon and the year 2025. Justify your choice of model by evaluating its errors against a 2-year moving average, using measures of error Mean Absolute Error (MAE) and Mean Squared Error (MSE).4. Provide your answers 1-3 as a PDF document (it can be handwritten or typed) showing all your calculation steps. Try to solve them using nothing but a pen-pencil and a calculator.
ASSIGNMENT 1 Case Study 1 : Forecasting Pantene

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!