Question: Using the same forecasting model produced in Question 1 , navigate to describe forecast and answer the following questions: Under the summary tab, what percentage

Using the same forecasting model produced in Question 1, navigate to describe forecast and answer the following questions:
Under the summary tab, what percentage contribution have seasonality and trend made to this forecast? What is the quality of this forecast, and what is the projected change of the sum of sales between Q4 in 2023 and Q4 in 2024?
Navigating to the Model tab, what is the root mean square error (RMSE) for this forecast? Suppose two other forecasts have been performed using the same data, with root mean square errors of 19.2 and 18.5, respectively. Which of the three forecasts would be the one you would identify as the most reliable, and why?

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!