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(i) Obtain the trend projection with regression forecast.

(i) Obtain the trend projection with regression forecast.

Practical Management Science
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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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 a = 0.4 with an initial forecast for week 1 of 569) 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 1 3 4 5 6 7 8 10 11 12 Sales 569 615 641 742 663 605 744 734 684 709 680 738 (i) Obtain the trend projection with regression forecast.
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 a = 0.4 with an initial forecast for week 1 of 569) 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 1 3 4 5 6 7 8 10 11 12 Sales 569 615 641 742 663 605 744 734 684 709 680 738 (i) Obtain the trend projection with regression forecast.
Specify the mean absolute deviation (MAD) and mean absolute percent error (MAPE). (Enter your responses rounded to two decimal places.) MAD МАРЕ D%
Transcribed Image Text:Specify the mean absolute deviation (MAD) and mean absolute percent error (MAPE). (Enter your responses rounded to two decimal places.) MAD МАРЕ D%
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