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FORECASTING PROBLEMS 1. A year ago, Deborah Yeboah started a home delivery service for the elderly. Customers place their orders with a local supermarket,
FORECASTING PROBLEMS 1. A year ago, Deborah Yeboah started a home delivery service for the elderly. Customers place their orders with a local supermarket, drugstore, or other retail establishment that has agreed to participate in this service. Each retail operation then fills its order and Deborah's firm picks up and delivers the merchandise. In addition to a fixed fee she receives per order from her customers, Deborah also receives a small percentage or commission from the retailers. Because she has been able to promise deliveries within three hours, her company has experienced significant growth, as shown in the table below: Month January February March April May June July August September October November December Number of Orders Delivered 420 430 400 500 470 530 490 570 440 540 630 600 Because she leases her delivery vans on an annual basis, she wants an estimate of the number of deliveries for each month in the coming year. Using least squares regression analysis, forecast the number of deliveries for each of the next 12 months.
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