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(1) Obtain the trend projection with regression forecast. The forecast for week 13 is. Enter your response rounded to the nearest whole number.) Specify the mean absolute deviation (MAD) and mean absolute percent error (MAPE). (Enter your responses rounded to two decimal places.) (ii) Obtain the exponential smoothing forecast. The forecast for week 13 is. (Enter your response rounded to the nearest whole number.) Specify the mean absolute deviation (MAD) and mean absolute percent error (MAPE). (Enter your responses rounded to two decimal places.) MAD MAD MAPE MAPE

(1) Obtain the trend projection with regression forecast. The forecast for week 13 is. Enter your response rounded to the nearest whole number.) Specify the mean absolute deviation (MAD) and mean absolute percent error (MAPE). (Enter your responses rounded to two decimal places.) (ii) Obtain the exponential smoothing forecast. The forecast for week 13 is. (Enter your response rounded to the nearest whole number.) Specify the mean absolute deviation (MAD) and mean absolute percent error (MAPE). (Enter your responses rounded to two decimal places.) MAD MAD MAPE MAPE

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.7: Exponential Smoothing Models
Problem 29P: The file P13_29.xlsx contains monthly time series data for total U.S. retail sales of building...
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Operations Management

A convenience store recently started to carry a new brand of soft drink. Management is interested in estimating future sales volume to determine whether it should continue to carry the new brand or replace it with another brand. The following table provides the number of cans sold per week. Use both the trend projection with regression and the exponential smoothing (let x = 0.4 with an initial forecast for week 1 of 581) methods to forecast demand for week 13. Compare these methods by using the mean absolute deviation and mean absolute percent error performance criteria. Does your analysis suggest that sales are trending and if so, by how much? Period Sales 1 581 2 637 3 653 4 739 5 652 6 638 7 751 8 679 9 726 10 714 11 687 12 748
Transcribed Image Text:A convenience store recently started to carry a new brand of soft drink. Management is interested in estimating future sales volume to determine whether it should continue to carry the new brand or replace it with another brand. The following table provides the number of cans sold per week. Use both the trend projection with regression and the exponential smoothing (let x = 0.4 with an initial forecast for week 1 of 581) methods to forecast demand for week 13. Compare these methods by using the mean absolute deviation and mean absolute percent error performance criteria. Does your analysis suggest that sales are trending and if so, by how much? Period Sales 1 581 2 637 3 653 4 739 5 652 6 638 7 751 8 679 9 726 10 714 11 687 12 748
(1) Obtain the trend projection with regression forecast. The forecast for week 13 is. (Enter your response rounded to the nearest whole number.) Specify the mean absolute deviation (MAD) and mean absolute percent error (MAPE). (Enter your responses rounded to two decimal places.) (ii) Obtain the exponential smoothing forecast. The forecast for week 13 is. (Enter your response rounded to the nearest whole number.) Specify the mean absolute deviation (MAD) and mean absolute percent error (MAPE). (Enter your responses rounded to two decimal places.) Based on MAD, the best method is Based on MAPE, the best method is MAD U MAD ■ MAPE MAPE
Transcribed Image Text:(1) Obtain the trend projection with regression forecast. The forecast for week 13 is. (Enter your response rounded to the nearest whole number.) Specify the mean absolute deviation (MAD) and mean absolute percent error (MAPE). (Enter your responses rounded to two decimal places.) (ii) Obtain the exponential smoothing forecast. The forecast for week 13 is. (Enter your response rounded to the nearest whole number.) Specify the mean absolute deviation (MAD) and mean absolute percent error (MAPE). (Enter your responses rounded to two decimal places.) Based on MAD, the best method is Based on MAPE, the best method is MAD U MAD ■ MAPE MAPE
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