Question: Please complete the following problems and upload the spreadsheet to GAView (also a Dropbox application) by the due date. Based on the following data, forecast
Please complete the following problems and upload the spreadsheet to GAView (also a Dropbox application) by the due date.
- Based on the following data, forecast sales for June of 2020 using the nave method, a 4-period simple moving average, a 4-period weighted moving average (, , , and ), and exponential smoothing(initialize with the initial actual and use ).
- Which forecast is best and why? You should look at the bias, MAD, and MAPE when making this assessment.
- Graph the data (something you should have done in the first place) and comment on any limitations or concerns you might have concerning the use any of these forecasting methods and what might be done to improve the situation.
Table 1
Demand for Noise Cancelling Bluetooth Stereo Headphones
| Year | Month | Demand (units) |
| 2017 | January | 9,750 |
|
| February | 9,975 |
|
| March | 9,300 |
|
| April | 10,200 |
|
| May | 11,550 |
|
| June | 10,875 |
|
| July | 12,225 |
|
| August | 11,325 |
|
| September | 12,450 |
|
| October | 13,125 |
|
| November | 14,475 |
|
| December | 13,800 |
| 2018 | January | 14,321 |
|
| February | 15,674 |
|
| March | 15,774 |
|
| April | 16,427 |
|
| May | 17,582 |
|
| June | 17,534 |
|
| July | 17,133 |
|
| August | 18,029 |
|
| September | 18,660 |
|
| October | 19,680 |
|
| November | 19,074 |
|
| December | 19,982 |
| 2019 | January | 20,145 |
|
| February | 20,618 |
|
| March | 19,200 |
|
| April | 21,090 |
|
| May | 23,925 |
|
| June | 22,508 |
|
| July | 25,343 |
|
| August | 23,453 |
|
| September | 25,815 |
|
| October | 24,952 |
|
| November | 25,438 |
|
| December | 25,923 |
| 2020 | January | 26,409 |
|
| February | 26,894 |
|
| March | 29,925 |
|
| April | 30,847 |
|
| May | 31,336 |
|
|
|
|
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
