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Problem 3: (4 Points) Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months.
Problem 3: (4 Points) Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months. The forecasts and actual sales are as follows: Month Sales 1 770 Forecast 1 771 Forecast 2 769 2 789 785 787 3 794 790 792 4 780 784 798 5 768 770 774 6 772 768 770 7 760 761 759 8 775 771 775 9 786 784 788 10 790 788 788 (a) Compute the MAD, MSE, and MAPE for each forecast (2 points) (b) Does either forecast seem superior? Explain (2 points) Problem 4 (10 points) Please find the attached EXCEL file named "QuickFix." Tom wants to predict the number of vehicles served by findings the influential factors from four aspects: Garage Bays, Population, Access, and Winter. Please use EXCEL to run multiple linear regression. (1) Please code the Variables of "Access" and "Winter" as dummy variables. Please list the first three observations' numbers after your coding for "Access" and "Winter." Please attach a screenshot of the multiple linear regression output (2 points) (2) If we denote the Variable of "Vehicles Served" as "V," "Garage Bays" as "G," "Population" as "P," "Access" as "A," and "Winter" as "W," Please list the multiple linear regression model. (2 points) (3) Please discuss the model fitness by focusing on the adjusted R Square Value. (2 points) (4) If Tom knows another observation has the values of G, P, A, and W as 5, 25, N, and Y, please help Tom to predict the number of vehicles served "V." (2 points) (5) What are the statistically significant factors for the number of vehicles, are they positively significant or negatively significant? Why? (2 points)
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