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Quarterly demands is given for the past 3 years: Winter Spring Summer Fall Year 1 4800 4500 4100 5500 Year 2 5700 3800 4500 6000 Year 3 6000 4600 4900 6500 a) Develop a seasonally adjusted forecast. (Use a linear trend line model to develop a forecast estimate.) b) Forecast demands for year 4 (Winter, Spring, Summer, and Fall). c) Assess Part (a) model accuracy using MSE.

Quarterly demands is given for the past 3 years: Winter Spring Summer Fall Year 1 4800 4500 4100 5500 Year 2 5700 3800 4500 6000 Year 3 6000 4600 4900 6500 a) Develop a seasonally adjusted forecast. (Use a linear trend line model to develop a forecast estimate.) b) Forecast demands for year 4 (Winter, Spring, Summer, and Fall). c) Assess Part (a) model accuracy using MSE.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Quarterly demands is given for the past 3 years: Winter Spring Summer Fall Year 1 4800 4500 4100 5500 Year 2 5700 3800 4500 6000 Year 3 6000 4600 4900 6500 a) Develop a seasonally adjusted forecast. (Use a linear trend line model to develop a forecast estimate.) b) Forecast demands for year 4 (Winter, Spring, Summer, and Fall). c) Assess Part (a) model accuracy using MSE. Note: Develop an Excel file for doing necessary calculations.
Transcribed Image Text:Quarterly demands is given for the past 3 years: Winter Spring Summer Fall Year 1 4800 4500 4100 5500 Year 2 5700 3800 4500 6000 Year 3 6000 4600 4900 6500 a) Develop a seasonally adjusted forecast. (Use a linear trend line model to develop a forecast estimate.) b) Forecast demands for year 4 (Winter, Spring, Summer, and Fall). c) Assess Part (a) model accuracy using MSE. Note: Develop an Excel file for doing necessary calculations.
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