Question: Solution Requirements Utilize Microsoft Excel to complete the following steps: Create a linear trend forecast for the next ten games. Hint : You will have
Solution Requirements
Utilize Microsoft Excel to complete the following steps:
- Create a linear trend forecast for the next ten games. Hint: You will have to create a linear trend equation for each game of the season across all six years. In other words, use all six years of info for Game 1 to create a Game 1 trend equation. Then repeat for Game 2 through Game 5. Once you have the equation for each of the five games, a forecast can be made for each game across the next two years to give you ten game forecasts.
Game 1
Year (x)
Attendees (y)
X2
XY
1
2
3
4
5
6
Sum
Avg
- Compute seasonal indices for each game. Use this to adjust the linear trend forecast generated in the previous step for the next ten games. Hint: Use games as seasons, with the six years of data for each season.
- Calculate the MAD, MSE, and MAPE. Assume the actual demand for the next ten games is:
|
| Actual 2016 | Actual 2017 |
| Game 1 | 47500 | 48500 |
| Game 2 | 53500 | 55800 |
| Game 3 | 48500 | 52800 |
| Game 4 | 37050 | 38100 |
| Game 5 | 49500 | 53100 |
|
| 236050 | 248300 |
|
|
|
|
4. Use the forecast and information in the case on ticket prices to project revenue for the next two seasons.
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