Answered: The forecast for week 13 is (Enter your…

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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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 α = 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 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |--------|-----|-----|-----|-----|-----|-----|-----|-----|-----|-----|-----|-----| | Sales | 569 | 615 | 641 | 742 | 663 | 605 | 744 | 734 | 684 | 709 | 680 | 738 | (i) Obtain the trend projection with regression forecast. The forecast for week 13 is ___ . (Enter your response rounded to the nearest whole number.)

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