Question: I need help fast, Please help, these are all in 1 question and separated into parts. Question B1 (40 pts): Abby Ohler is a sales

I need help fast, Please help, these are all in 1 question and separated into parts.

Question B1 (40 pts): Abby Ohler is a sales manager at Brighton Creamery, a company that produces and sells ice-cream. Abby believes that daily temperature in Nebraska would be a good indicator of the companys daily ice cream sales in gallons (gal). Based on the weather data collected at various days with different daily temperature levels (between 54 and 85 Fahrenheit), she has come up with the following regression analysis:

Regressional Statistics

Multiple R 0.957
R Square 0.916
Adjusted R Square 0.916
Standard Error 0.0834
Observations 50

Anova

df SS MS F Significance F
Regression 1 0.9648 0.9648 138.26 0.000
Residual 48 0.083736 0.00697
Total 49 1.0485

Standard

Coefficients Error t Stat P-Value
Intercept -980 0.120981 1.904 0.02103
Daily Temperature 22.4 0.012707 1.12 0.0214

a) (6 pts) Following regression results given above, if the daily temperature in Nebraska is 82, how much ice cream does Brighton Creamery expect to sell?

b) (8pts) Are you confident in the forecast you obtained in part B1 (a)? Explain your answer with support.

c) (8 pts) Abby Ohler also has the following data on ice cream demand in the last 8 days. Based on this data, forecast the demand for day 9 using exponential smoothing with a smoothing constant of 0.4 and given that the forecast for day 7 was 380.

Day 1 2 3 4 5 6 7 8
Demand 365 350 320 382 402 375 390 372

Abby has been using another method to forecast ice cream demand. Using this new method, she came up with the following forecasts given in Table 1 for the past 8 days demand.

TAble 1
day Demand Forecast Error Error^2
1 365 342 23 529
2 350 331 19 361
3 320 353 -33 1089
4 382 352 30 900
5 402 371 31 961
6 375 396 -21 441
7 390 372 18 324
8 372 391 -19 361
Toatal 48 4966

d) (8 pts) Using the results for the past 8 days given in Table 1 above, do any of the errors appear to be unusually small or large, considering the variability in the data?

Choose Yes or No and show supporting calculation

e) (10 pts) Customers will be very dissatisfied if Brighton Creamery is out of stock when they want to buy ice cream, and this may lead to irreversible market share loss. Furthermore, Brighton Creamery has a limited freezer space and storing more than available freezer space may not be possible or extremely costly. Abby Ohler has many alternative methods available for her to forecast ice cream demand. What measure of forecast accuracy is most appropriate to evaluate and compare the performances of the alternative forecasting methods available for Abby for ice cream demand?

Choose (circle) one and briefly explain the reason: MSE / MAD / MAPE

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