Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Note: Data for these problems are in the Module 2AssistedAssignments Data file there is a tab for each problem.All answers should be entered using two

Note: Data for these problems are in the Module 2AssistedAssignments Data file there is a tab for each problem.All answers should be entered using two decimal places unless otherwise specified.If both decimal places are zeros then just enter the integer value. Percentages should be entered without % sign -3.45% should be entered as 3.45.M2_A1. The last 20 years of annual sales for a small business is shown in Worksheet P1. The data is shown in $1000s so Year 1 is $283,000. I will ask for all answers in terms of $1000s so just enter the data in your worksheets as it is shown in the file.(Note: I have made some modifications to this problem since creating the supporting video -so there is some extra information in the video that you are not responsible for at this time. Specifically, I show you how to use Solver to optimize the answers you are not responsible for using Solver at this point. Also although it shows a different problem number-it is the solution for this problem). a)Plot the data does the data appear stationary?b)Compute the forecasts using the two-year moving average. What is the MSE? c)Compute the forecast for Year 21 using the two-year moving average. d)Compute the forecasts using the four-year moving average. What is the MAD? e)Compute the forecast for Year 21 using the four-year moving average. f)Do the two and four-year moving averages tend to underestimate or overestimate the actual data? Why? g)Compute the forecasts using the three-year weighted moving average using weights of 0.6, 0.3, and 0.1. What is the MAPE? h)Compute the forecast for Year 21 using the three-year weighted moving average using weights of 0.6, 0.3, and 0.1.i)Compute the forecasts using exponential smoothing with a smoothing constant of 0.2 and a forecast for Year 1 of 283. What is the MSE? j)Compute the forecast for Year 21 using exponential smoothing with a smoothing constant of 0.2 and a forecast for Year1 of 283. k)Compute the forecasts using linear regression using Excels slope and intercept function. What is the MAD?l) Compute the forecast for Year 21 using linear regression. m)Comparing one of the error measurements (MAD, MSE, or MAPE) which is the best forecasting method?Which is the worst forecasting method? Need all questions answered. All of the answers already online for this are wrong on the site.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Internal Audit Handbook Management With The SAP Audit Roadmap

Authors: Henning Kagermann, William Kinney, Karlheinz Küting, Claus-Peter Weber, Z. Keil, C. Boecker, J. Busch, O. Bussiek, M. H. Christ, P. Eckes, M. Falk, P. S. Greenberg, B. Reichert, M. Wolf

2008th Edition

3642430392, 978-3642430398

More Books

Students also viewed these Accounting questions

Question

Why could the Robert Bosch approach make sense to the company?

Answered: 1 week ago