PRACTICE PROBLEMS: FORECASTING 1. Consider the data in the table below for month

Question

PRACTICE PROBLEMS: FORECASTING 1. Consider the data in the table below for monthly cereal sales (s000). Month January February March April May June July August September October November December Sales ($000) $1,212 1,321 1,278 1,341 1,257 1,287 1,189 1,111 1,145 1,150 1,298 1,331 Average $2,243.33 Input this data into an Excel spreadsheet and do the following: a. Calculate a four-month moving average forecast. What is you forecast for month 13 b. Use exponential smoothing with a smoothing factor of 0.30 to calculate the forecast for month 13. 2. Fit a simple regression model to the data in problem 1 above. What is your forecast for month 13

Explanation / Answer

Hi All,

Please find the solution below:

Month Sales 4-month moving average exponential smoothing=0.3 Jan 1212 NA Feb 1321 1212 March 1278 1245 April 1341 1255 May 1257 1288 1281 June 1287 1299 1274 July 1189 1291 1278 August 1111 1269 1251 September 1145 1211 1209 October 1150 1183 1190 November 1298 1149 1178 December 1331 1176 1214 January 1231 1249

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