Question: Develop a linear regression trendline for the data provided from ( 2 0 0 8 - 2 0 1 5 ) . What is the

Develop a linear regression trendline for the data provided from (2008-2015). What is the regression equation?
Use the regression equation from question 1 to obtain forecasted sales (FT) for Jan 2015-Dec 2015(i.e. months 85-96). Insert your forecasted sales in the Regress Sale Forecast (FT) column in the Table 1 below. Next, calculate the forecast errors for Jan 2015-Dec 2015(i.e. months 85-96). Insert your forecast error values in the Forecast Error (FET) column in Table below. For your answer, provide a copy of Table 1 with your answers inserted in the requested cells. 3. Use the data obtained in Table 1 to calculate the Mean Absolute Percentage Error (MAPE) for 2015 when using your regression equation to forecast sales. You must show your work for credit.
4. Use exponential smoothing with an alpha value of \alpha =0.50 to obtain forecasted sales (FT) for Jan 2015-Dec 2015(i.e. months 85-96). Note that you will need the Actual Sales (AT) from Dec 2014(i.e month 84) and a forecast from month 84(use the Nave Method) to get the first exponential smoothing forecast. These values can be obtained from the data file provided. Insert your forecasted sales in the Exponential Smoothing Sales Forecast (FT) column in the Table 2 below. Next, calculate the forecast errors for Jan 2015-Dec 2015(i.e. months 85-96). Insert your forecast error values in the Forecast Error (FET) column in Table below. For your answer, provide a copy of Table 2 with your answers inserted in the requested cells. 5. Use the data obtained in Table 2 to calculate the Mean Absolute Percentage Error (MAPE) for 2015 when using the Exponential Smoothing method to forecast sales. You must show your work for credit.
6. Which method would you recommend for Napa Valley Winery to use to forecast their sales moving forward? Justify your answer with a detailed explanation, making sure to also discuss any potential differences in the Mean Absolute Percentage Errors between the two
methods.
Please show ALL work for each prooblem 1-6 step by step complete with the tables above filled. Thank You.
 Develop a linear regression trendline for the data provided from (2008-2015).

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!