A pharmaceutical company would like to make an accurate forecast about vitamins sales in 2022.   Using sales as the Y variable and time ( year) as the x variable, 1.Determine the slope and the intercept of the trend equation. 2. Provide a forecast of the sales for the period 2015-2022 using the 3 year moving average method. 3. Compute the

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

A pharmaceutical company would like to make an accurate forecast about vitamins sales in 2022.

 

Using sales as the Y variable and time ( year) as the x variable,
1.Determine the slope and the intercept of the trend equation.
2. Provide a forecast of the sales for the period 2015-2022 using the 3 year moving average method.
3. Compute the accuracy measure MAPE for the naïve and the 3-year moving
average. Conclude about which method to advise.

Ten-year sales data
Year
Sales ($millions)
2012
7.84
2013
12.26
2014
13.11
2015
15.78
2016
21.29
2017
25.68
2018
23.80
2019
26.43
2020
29.16
2021
33.06
2022
Transcribed Image Text:Ten-year sales data Year Sales ($millions) 2012 7.84 2013 12.26 2014 13.11 2015 15.78 2016 21.29 2017 25.68 2018 23.80 2019 26.43 2020 29.16 2021 33.06 2022
Expert Solution
steps

Step by step

Solved in 4 steps with 8 images

Blurred answer
Knowledge Booster
Time Series Analyses, Forecasting Methods, and Indices
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman