Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show in excel and forecastx how to get these solved AmerPlas, Inc., produces 16-ounce plastic drinking cups that are embossed with the names of

image text in transcribed

Please show in excel and forecastx how to get these solved AmerPlas, Inc., produces 16-ounce plastic drinking cups that are embossed with the names of prominent beers and soft drinks. It has been observed that sales of the cups match closely the seasonal pattern associated with beer production but that, unlike beer production, there has been a positive trend over time. The sales data, by month, for 2013 through 2016 are shown above

a.Use these data to estimate a linear time trend as follows:SALES = a + b(T)SALES = ________ +/ ________(T)(Circle + or as appropriate) Do your regression results support the notion that there has been a positive time trend in the SALES data? Explain

b. Use your equation to forecast SALES for the 12 months of 2017:

c. Actual SALES for 2017 are:

Period Actual Sales
2017 M01 2318
M02 2367
M03 2523
M04 2577
M05 2646
M06 2674
M07 2697
M08 2702
M09 2613
M10 2626
M11 2570
M12 2590

on the basis of your results in part (b) in comparison with these actual sales, how well do you think your model works? What is the MAPE for 2017?

\begin{tabular}{lrrccc} \hline Period & T & Sales & Period & T & Sales \\ \hline 2013M01 & 1 & 857 & 2015M01 & 25 & 1,604 \\ 2013M02 & 2 & 921 & 2015M02 & 26 & 1,643 \\ 2013M03 & 3 & 1,071 & 2015M03 & 27 & 1,795 \\ 2013M04 & 4 & 1,133 & 2015M04 & 28 & 1,868 \\ 2013M05 & 5 & 1,209 & 2015M05 & 29 & 1,920 \\ 2013M06 & 6 & 1,234 & 2015M06 & 30 & 1,953 \\ 2013M07 & 7 & 1,262 & 2015M07 & 31 & 1,980 \\ 2013M08 & 8 & 1,258 & 2015M08 & 32 & 1,989 \\ 2013M09 & 9 & 1,175 & 2015M09 & 33 & 1,897 \\ 2013M10 & 10 & 1,174 & 2015M10 & 34 & 1,910 \\ 2013M11 & 11 & 1,123 & 2015M11 & 35 & 1,854 \\ 2013M12 & 12 & 1,159 & 2015M12 & 36 & 1,957 \\ 2014M01 & 13 & 1,250 & 2016M01 & 37 & 1,955 \\ 2014M02 & 14 & 1,289 & 2016M02 & 38 & 2,008 \\ 2014M03 & 15 & 1,448 & 2016M03 & 39 & 2,171 \\ 2014M04 & 16 & 1,497 & 2016M04 & 40 & 2,202 \\ 2014M05 & 17 & 1,560 & 2016M05 & 41 & 2,288 \\ 2014M06 & 18 & 1,586 & 2016M06 & 42 & 2,314 \\ 2014M07 & 19 & 1,597 & 2016M07 & 43 & 2,343 \\ 2014M08 & 20 & 1,615 & 2016M08 & 44 & 2,339 \\ 2014M09 & 21 & 1,535 & 2016M09 & 45 & 2,239 \\ 2014M10 & 22 & 1,543 & 2016M10 & 46 & 2,267 \\ 2014M11 & 23 & 1,493 & 2016M11 & 47 & 2,206 \\ 2014M12 & 24 & 1,510 & 2016M12 & 48 & 2,226 \\ \hline \end{tabular} \begin{tabular}{lrrccc} \hline Period & T & Sales & Period & T & Sales \\ \hline 2013M01 & 1 & 857 & 2015M01 & 25 & 1,604 \\ 2013M02 & 2 & 921 & 2015M02 & 26 & 1,643 \\ 2013M03 & 3 & 1,071 & 2015M03 & 27 & 1,795 \\ 2013M04 & 4 & 1,133 & 2015M04 & 28 & 1,868 \\ 2013M05 & 5 & 1,209 & 2015M05 & 29 & 1,920 \\ 2013M06 & 6 & 1,234 & 2015M06 & 30 & 1,953 \\ 2013M07 & 7 & 1,262 & 2015M07 & 31 & 1,980 \\ 2013M08 & 8 & 1,258 & 2015M08 & 32 & 1,989 \\ 2013M09 & 9 & 1,175 & 2015M09 & 33 & 1,897 \\ 2013M10 & 10 & 1,174 & 2015M10 & 34 & 1,910 \\ 2013M11 & 11 & 1,123 & 2015M11 & 35 & 1,854 \\ 2013M12 & 12 & 1,159 & 2015M12 & 36 & 1,957 \\ 2014M01 & 13 & 1,250 & 2016M01 & 37 & 1,955 \\ 2014M02 & 14 & 1,289 & 2016M02 & 38 & 2,008 \\ 2014M03 & 15 & 1,448 & 2016M03 & 39 & 2,171 \\ 2014M04 & 16 & 1,497 & 2016M04 & 40 & 2,202 \\ 2014M05 & 17 & 1,560 & 2016M05 & 41 & 2,288 \\ 2014M06 & 18 & 1,586 & 2016M06 & 42 & 2,314 \\ 2014M07 & 19 & 1,597 & 2016M07 & 43 & 2,343 \\ 2014M08 & 20 & 1,615 & 2016M08 & 44 & 2,339 \\ 2014M09 & 21 & 1,535 & 2016M09 & 45 & 2,239 \\ 2014M10 & 22 & 1,543 & 2016M10 & 46 & 2,267 \\ 2014M11 & 23 & 1,493 & 2016M11 & 47 & 2,206 \\ 2014M12 & 24 & 1,510 & 2016M12 & 48 & 2,226 \\ \hline \end{tabular}

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

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions