(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
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Question
Operations Management

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

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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