Simone has been studying the sales data provided by the stores in one region. She has formatted
Question:
Simone has been studying the sales data provided by the stores in one region. She has formatted the data in the same structure for all of the stores so be certain to build your spreadsheet so that can grow be reused for all of the questions she has compiled.
Don't round any calculations in the middle of the problem and round final answers to two (2) decimal places.
There are 2 years of previous data to use in putting together the forecasts (periods 1-24). Then, after moving through the next year, 12 more periods are provided to determine the accuracy of the forecasts.
The past sales history for Store 1 is provided in the table below. Using time series trend projections (least squares regression analysis), forecast the demand for December of the following year (Month 36)?
Use periods 1 through 24 to create your forecast and enter your value for Period 36 for this question.
Month | Year | Period | Store 1 |
January | 1 | 1 | 69883 |
February | 1 | 2 | 88561 |
March | 1 | 3 | 100465 |
April | 1 | 4 | 106156 |
May | 1 | 5 | 85151 |
June | 1 | 6 | 94513 |
July | 1 | 7 | 67472 |
August | 1 | 8 | 67230 |
September | 1 | 9 | 59651 |
October | 1 | 10 | 35047 |
November | 1 | 11 | 43942 |
December | 1 | 12 | 60621 |
January | 2 | 13 | 64054 |
February | 2 | 14 | 67724 |
March | 2 | 15 | 105975 |
April | 2 | 16 | 113024 |
May | 2 | 17 | 82876 |
June | 2 | 18 | 91252 |
July | 2 | 19 | 87916 |
August | 2 | 20 | 61145 |
September | 2 | 21 | 34506 |
October | 2 | 22 | 51923 |
November | 2 | 23 | 56918 |
December | 2 | 24 | 71524 |
Statistics for Management and Economics Abbreviated
ISBN: 978-1285869643
10th Edition
Authors: Gerald Keller