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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
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 exponential smoothing let with an initial forecast for week of methods to forecast demand for week Calculate the mean absolute deviation and mean absolute percent error performance criteria.
tablePeriodSales
i Obtain the exponential smoothing forecast.
The forecast for week is Enter your response rounded to the nearest whole number.
Specify the mean absolute deviation MAD and mean absolute percent error MAPEEnter your responses rounded to two decimal places.
tableMADMAPE
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