Question: Part 2 : What if there is any seasonality pattern? While exploring the data and comparing the two previous forecasting methods, you were still not
Part : What if there is any seasonality pattern?
While exploring the data and comparing the two previous forecasting methods, you were still not convinced by the forecast accuracy level. Following an indepth analysis, you have decided to check whether there is any seasonal pattern throughout the quarters of the year.
As the manager of this ice cream parlor, you recognize the importance of understanding and leveraging this seasonality to optimize inventory management, staffing levels, and promotional activities. Your goal is to extract and model the seasonality component effectively to make informed business decisions.
Therefore, you redesigned your table as follows:
tableQuarterIce Cream Sales in gallonstableAverage Numberof Ice CreamGallons SoldtableExpected Numberof Ice CreamGallons SoldtableSeasonalIndextableYear
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