Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Five years of a well-established brands monthly sales volume data are shown in the table below. As may be noted, there is substantial seasonality in
Five years of a well-established brands monthly sales volume data are shown in the table below. As may be noted, there is substantial seasonality in this brand's sales.
Forecaster Simulation: Problem #3 Data
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | |
January | 5550 | 4782 | 5283 | 4760 | 4314 | |
February | 5398 | 4897 | 4544 | 4930 | 4476 | |
March | 4236 | 4693 | 4370 | 4930 | 4476 | |
April | 2977 | 3747 | 2419 | 3065 | 3350 | |
May | 2345 | 2235 | 2463 | 2546 | 2274 | |
June | 1198 | 1156 | 1887 | 1602 | 1250 | |
July | 1090 | 1196 | 1194 | 1818 | 1392 | |
AUgust | 1530 | 1889 | 1759 | 2190 | 1942 | |
September | 1388 | 1324 | 2077 | 2007 | 1836 | |
October | 1522 | 1269 | 1440 | 1387 | 1593 | |
November | 2252 | 1763 | 1601 | 1571 | 1356 | |
December | 3746 | 3812 | 3712 | 3720 | 3642 |
|
Develop a monthly sales volume forecast for the brand for each of the first six months of Year 6. A total of six monthly forecasts are needed one for each of January, Year 6 through to June, Year 6.
Describe the tool you will use to complete this forecast. Be sure to include "The tool I chose ..." or your answer will be marked incorrect.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started