Question: Table 1 below. Associate method (i.e., linear regression) is the forecasting method the management has decided to use. Answer the questions Q1 Q4 below. TABLE

Table 1 below. Associate method (i.e., linear

Table 1 below. Associate method (i.e., linear regression) is the forecasting method the management has decided to use. Answer the questions Q1 Q4 below. TABLE 1 Q1: Given the estimated local sales of import cars, \$20 million, and estimated local payroll, \$4 Sales next year (in million) show your anaylsis to earn points. TABLE 2 Q2: The manager, Alan, suggested the annual average interest rate be taken into consideration along with local payroll and local sales of import cars for the year, when forecasting Car Plus's yearly sales. Along with the information indicated in Q1, Alan predicted the average interest rate next year is 5.5%. What is Alan's forecast for next year's sale? Should the average interest rate be included to forecast Car Plus's next year's sales, Yes or NO? Provide the statistical/quantitative reasoning behind your answer (no personal perception please). Q3: The business analyst, Jenny, considered using a different approach than the management's associate method. She decided to use trend projection to forecast next year's sale. What is the forecast? Q4: Jenny, also considered the exponential smoothing (w/o trend) method with a smoothing constant of 0.4. Year 1's forecast was 100 thousand. Based on the MAD criterion, which is more reliable, trend projection or exponential smoothing? Show your analysis below

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