4. Using the actual Year-3 numbers check your forecast accuracy, by calculating CFE, MSE, MAD, MAPE, and the tracking signal on microsoft Excel ### Dress Sales Data AnalysisPricilla Phranklin opened her clothing store, Pricilla Phashions, in Downtown Dover a little over three years ago. The sales of pants, skirts, blouses, and shirts are fairly consistent, while items like shorts, sweaters, and outerwear show a high degree of seasonality. However, the sales of dresses are more challenging to predict. Pricilla is hiring you to determine the best forecasting method for dress sales.Below is a table containing three years of dress sales data:| Month | Year 1 Demand | Year 2 Demand | Year 3 Demand ||-------|---------------|---------------|---------------|| Jan | 186 | 217 | 212 || Feb | 222 | 220 | 245 || Mar | 220 | 239 | 252 || Apr | 356 | 362 | 376 || May | 720 | 727 | 757 || Jun | 367 | 376 | 404 || Jul | 340 | 341 | 354 || Aug | 293 | 290 | 324 || Sep | 305 | 296 | 338 || Oct | 600 | 600 | 618 || Nov | 325 | 318 | 356 || Dec | 679 | 708 | 713 || **Total** | **4613** | **4694** | **4949** |This data will help in analyzing the patterns and trends in dress sales over a three-year period, which is essential for developing a robust forecasting model. The data shows variability across months, indicating potential seasonality, and an overall increasing trend.

Given information: Month Year 1 Demand Year 2 Demand Year 3 Demand January 186 217 212…

Pricilla Phranklin opened her clothing store, Pricilla Phashions, in Downtown Dover a little over three years ago. Pants, skirts, blouses, and shirts have fairly consistent sales, while things like shorts, sweater and outerwear are highly seasonal. On the other hand, dresses are a little harder to predict. Pricilla is hiring you to arrive at the best forecasting method for dresses. The following table contains three years of dress sales data Year 1 Month Demand Jan Feb Mar Apr Ap May Jun ww Jul . Aug Sep Oct Nov Dec Total 186 222 *********** Year 2 Demand 217 220 239 2.99 362 www 727 *** 376 www 341 290 296 600 318 708 4694 Year 3 Deman d 212 245 252 376 919 757 10 404 354 324 338 618 356 713 4949

Pricilla Phranklin opened her clothing store, Pricilla Phashions, in Downtown Dover a little over three years ago. Pants, skirts, blouses, and shirts have fairly consistent sales, while things like shorts, sweater and outerwear are highly seasonal. On the other hand, dresses are a little harder to predict. Pricilla is hiring you to arrive at the best forecasting method for dresses. The following table contains three years of dress sales data Year 1 Month Demand Jan Feb Mar Apr Ap May Jun ww Jul . Aug Sep Oct Nov Dec Total 186 222 ********* Year 2 Demand 217 220 239 2.99 362 www 727 * 376 www 341 290 296 600 318 708 4694 Year 3 Deman d 212 245 252 376 919 757 10 404 354 324 338 618 356 713 4949

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

Need help with the last one please!
The Consumer Price Index is reported monthly by the U.S. Bureau of Labor Statistics. It reports the charge in prices for a market basket of goods from one period to another. The index for 2010 was 213.967. BY 2017, it increased to 239.051 What was the geometric mean annual increase for the period? ( Round your answer to 1 decimal)
An important characteristic on Google Trends is the use of A. Annotations B. cross section data С. Кеywords D. none of these
The forecasts generated by two forecasting methods and actual sales have been collected in the Microsoft Excel Online file attached. Use the Microsoft Excel Online file attached to develop forecast accuracy and answer the following questions. 1. What is the MAD, the MSE, the MAPE, the RSFE, and the tracking signal for each forecasting method? Do not round intermediate calculations. Round your answers to two decimal places. Use the minus sign to enter negative values, if any. 2. What can be concluded about the quality of the forecasts 2? Assume that the control limit for the tracking signal is ±3. The results indicate (bias or no bias) in the forecasts 2, and that the tracking signal (is not or is) within the control limits of ±3.
7.8km 16km SA=
Q. 8 What type of Index numbers are usually calculated?
Name the forecasting methods
Read the following prompt and complete 3.a and 3.b
Answer the following questions regarding the population of Hamilton County in 2016. a. If you predict the population of Hamilton County in 2016, should you use the average growth rate of 2000-2009 or the average growth rate of 2009-2015? Explain your choice in a complete sentence. b. Predict the population of Hamilton Country in 2016. Show your work. Express your answer in “thousand people” rounded to the nearest whole number.
Use the most accurate method to forecast the revenues of licenses, permits, and fees in Years 9, 10, and 11. Use the Year 8 actual figure instead of the forecast figure (Year 8 was $23,210,218). Also, consider three incremental changes in forecasting.
Month 1 2 3 4 5 6 7 Value 24 13 20 12 19 23 15 Using the most recent value as the forecast for the next month, compute the following measures of forecast accuracy: a) Mean Absolute Error (MAE) b) Mean Squared Error (MSE) c) Mean Absolute Percentage Error (MAPE) d) What is the forecast for Month 8?
Determine which of the four levels of measurement ( norminal, ordinal, interval, ratio) is most appropriate for the data below. Years in which U.S. presidents were inaugurated