Question
PART A The following table shows quarterly sales (in thousand units) for a product over 5 years. The overall sales average for the entire 5
PART A The following table shows quarterly sales (in thousand units) for a product over 5 years. The overall sales average for the entire 5 years is 120.65 (thousand units). Fill in the missing values assuming there is no trend. Round seasonal indexes to 4 decimal places. Report Averages accurate toat most2 decimal places. Report Actual sales ('000) accurate to the nearest integer.
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Average | Seasonal Index | |
---|---|---|---|---|---|---|---|
Quarter 1 | 111 | 121 | 122 | 114 | 0.9764 | ||
Quarter 2 | 66 | 79 | 73 | 70 | 74 | ||
Quarter 3 | 88 | 92 | 94 | 101 | 91 | ||
Quarter 4 | 187 | 212 | 198 | 206 | 1.6511 |
PART B Suppose actual quarterly sales (in thousands) for Year 6 are 127, 75, 89, and 194 respectively. Assuming there is no trend, forecast sales for the four quarters of Year 6. Use seasonal indexes (rounded to 4 decimal places) from Part A. Report forecast answers asintegersaccurate to thenearest thousand. Quarter 1 forecast = thousand Quarter 2 forecast = thousand Quarter 3 forecast = thousand Quarter 4 forecast = thousand Calculate the mean absolute percent error (MAPE) for the four forecasts. Use the integer forecast values you reported above. Report MAPE as percent accurate to 2 decimal places. Do not round intermediate values. MAPE = %
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