Question: Use the data in the Excel file for this assignment. These data represent sales ( in units ) of a new dessert item recently added
Use the data in the Excel file for this assignment. These data represent sales in units of a new dessert item recently added to a restaurant's menu. So far the restaurant has been selling the item for weeks, and wants to forecast what sales will be in the upcoming week week
Construct both a weighted moving average and a linear trend forecast. For the weighted moving average, use the previous three periods, with weights of for the most recent previous period, for the second most recent previous period, and for the third most recent previous period. For each technique, provide the forecasted values for both week as well as all of the previous weeks that the technique will allow. Calculate the errors and MAD and MAPE. Based on these metrics, state which forecasting technique seems to work better for these data.
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