Determine the forecast results for the next 12 months using one of the following methods and provide reasons for choosing that method:Moving AveragesExponential SmoothingTrend AnalysisDecomposition of Time SeriesLinear Regression Month1234567891011121314Quantity22 882199811881119 35227 2261893218931852313 06413 73312 5977 64523 47817019Month1516171819202122232425262728Quantity20 96719 75922 20024 16220 275794914 32816 69113 7841098624 7681935123 95318 855Month2930313233343536373839404142Quantity28 41422 53722 845945115 8421640913 88111 23024 76521 73925 1532051524 03825 151

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Answered: Determine the forecast results for the…

Determine the forecast results for the next 12 months using one of the following methods and provide reasons for choosing that method: Moving Averages

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

Determine the forecast results for the next 12 months using one of the following methods and provide reasons for choosing that method:

Moving Averages
Exponential Smoothing
Trend Analysis
Decomposition of Time Series
Linear Regression

Month
123456789
10
11
12
13
14
Quantity
22 882
19981
18811
19 352
27 226
18932
18931
8523
13 064
13 733
12 597
7 645
23 478
17019
Month
15
16
17
18
19
20
21
22
23
24
25
26
27
28
Quantity
20 967
19 759
22 200
24 162
20 275
7949
14 328
16 691
13 784
10986
24 768
19351
23 953
18 855
Month
29
30
31
32
33
34
35
36
37
38
39
40
41
42
Quantity
28 414
22 537
22 845
9451
15 842
16409
13 881
11 230
24 765
21 739
25 153
20515
24 038
25 151

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

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