Practical Management Science
6th Edition
ISBN: 9781337671989
Author: WINSTON
Publisher: Cengage
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Chapter 13.3, Problem 2P
The file P13_02.xlsx contains five years of monthly data on sales (number of units sold) for a particular company. The company suspects that except for random noise, its sales are growing by a constant percentage each month and will continue to do so for at least the near future.
- a. Explain briefly whether the plot of the series visually supports the company’s suspicion.
- b. By what percentage are sales increasing each month?
- c. What is the MAPE for the
forecast model in part b? In words, what does it measure? Considering its magnitude, does the model seem to be doing a good job? - d. In words, how does the model make forecasts for future months? Specifically, given the forecast value for the last month in the data set, what simple arithmetic could you use to obtain forecasts for the next few months?
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Indicate whether the data are time series or cross-sectional.
Number of cars sold by each salesperson in a dealership in October
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A. The data are cross-sectional because the data are measured over time.
B. The data are cross-sectional because the data are taken from situations that vary over time but are measured at a single time instant.
OC. The data are time series because the data are taken from situations that vary over time but are measured at a single time instant.
D. The data are time series because the data are measured over time.
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The number of sales invoice checked is an example of?
1.qualitative data
2.continuous data
3.discrete data
4.temporal data
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Chapter 13 Solutions
Practical Management Science
Ch. 13.3 - The file P13_01.xlsx contains the monthly number...Ch. 13.3 - The file P13_02.xlsx contains five years of...Ch. 13.3 - The file P13_03.xlsx contains monthly data on...Ch. 13.3 - The file P13_04.xlsx lists the monthly sales for a...Ch. 13.3 - Management of a home appliance store wants to...Ch. 13.3 - Do the sales prices of houses in a given community...Ch. 13.3 - Prob. 7PCh. 13.3 - The management of a technology company is trying...Ch. 13.3 - Prob. 9PCh. 13.3 - Sometimes curvature in a scatterplot can be fit...
Ch. 13.4 - Prob. 12PCh. 13.4 - A trucking company wants to predict the yearly...Ch. 13.4 - An antique collector believes that the price...Ch. 13.4 - Stock market analysts are continually looking for...Ch. 13.4 - Suppose that a regional express delivery service...Ch. 13.4 - The owner of a restaurant in Bloomington, Indiana,...Ch. 13.6 - The file P13_19.xlsx contains the weekly sales of...Ch. 13.6 - The file P13_20.xlsx contains the monthly sales of...Ch. 13.6 - The file P13_21.xlsx contains the weekly sales of...Ch. 13.6 - The file P13_22.xlsx contains total monthly U.S....Ch. 13.7 - You have been assigned to forecast the number of...Ch. 13.7 - Simple exponential smoothing with = 0.3 is being...Ch. 13.7 - The file P13_25.xlsx contains the quarterly...Ch. 13.7 - The file P13_26.xlsx contains the monthly number...Ch. 13.7 - The file P13_27.xlsx contains yearly data on the...Ch. 13.7 - The file P13_28.xlsx contains monthly retail sales...Ch. 13.7 - The file P13_29.xlsx contains monthly time series...Ch. 13.7 - A version of simple exponential smoothing can be...Ch. 13 - Prob. 31PCh. 13 - Prob. 32PCh. 13 - Management of a home appliance store would like to...Ch. 13 - A small computer chip manufacturer wants to...Ch. 13 - The file P13_35.xlsx contains the amount of money...Ch. 13 - Prob. 36PCh. 13 - Prob. 37PCh. 13 - Prob. 39PCh. 13 - The Baker Company wants to develop a budget to...Ch. 13 - Prob. 41PCh. 13 - The file P13_42.xlsx contains monthly data on...Ch. 13 - Prob. 43PCh. 13 - Prob. 44PCh. 13 - Prob. 45PCh. 13 - Prob. 46PCh. 13 - Prob. 49P
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