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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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 a=0.4 with an initial forecast for week 1 of 584) 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? 1 584 (i) Obtain the trend projection with regression forecast The forecast for week 13 is 2 632 Period Sales 3 652 4 5 6 737 650 622 7 728 (Enter your response rounded to the nearest whole number.) 8 712 9 10 756 727 11 668 12 740

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