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1) The actual demands for the huckleberry ice cream in the past 10 days were as follows: Day 1 2 3 4 5 6 7
1) The actual demands for the huckleberry ice cream in the past 10 days were as follows: Day 1 2 3 4 5 6 7 8 9 10 Demand 120 143 143 195 212 200 246 230 251 232 a) In Excel, use the scatter plot to visualize the demand data and find the slope and the intercept of the regression line. b) Forecast the demand for ice cream for days 1 through 11 using the regression line. Feel free to use Excel and write down your answers in the table below! Day Demand Forecast 1 120 2 143 3 143 4 195 5 212 6 200 7 246 8 230 9 251 10 232 11 Use the exponential smoothing method with a = 0.7 and forecast the demand for ice cream for days 2 through 11. The initial forecast for day 1 is 130 ice creams. Feel free to use Excel and write your answers in the following table. Day Demand Forecast 1 120 2 143 143 3 4 195 5 212 6 200 7 246 8 230 9 251 10 232 11 d) Using Excel, calculate the three performance measures for the linear regression model in part b. Provide a table similar to the one for example 5.8 (page 62 of the notes) Create/insert the table here MSE= MAD= MAPE= e) Using Excel, calculate the three performance measures for the exponential smoothing method in part c. Provide a table similar to the one for example 5.8|| Create/insert the table here MSE= MAD= MAPE=
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