Question: Please do this problem in Excel and provide the steps of each formula you used for each question. Thank you! The following data are the

Please do this problem in Excel and provide the steps of each formula you used for each question. Thank you!

The following data are the sales in units at an electronics store over the past 9 years.

Week Sales
1 46
2 49
3 43
4 50
5 53
6 58
7 62
8 56
9 63

  1. Use each of the methods below to forecast sales for week 10

i. Two-month moving average.

ii. Exponential smoothing with a smoothing constant of 0.4 (Use 46 as the sales forecast for week 1, same as the actual sales for week 1)

2. Which forecast method is better? (Hint: Use any one of the three performance evaluation criteria to decide)

3. Use trend projection with regression to forecast sales for week 10

4. For (c) above, determine mean absolute deviation (MAD), mean square error (MSE) and mean absolute percent error (MAPE)

5. Calculate the coefficient of determination (r2) and interpret its value.

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!