Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sales of a product for the last three years are given below Year Jan Feb Mar April May June Jul Aug Sep Oct Nov Dec

Sales of a product for the last three years are given below

Year Jan Feb Mar April May June Jul Aug Sep Oct Nov Dec
1 800 795 815 800 805 812 820 830 825 820 810 800
2 802 795 812 802 804 814 825 835 824 814 808 798
3 798 800 810 804 806 816 826 834 822 816 810 804

i) Find the seasonal index for each of the months.

ii) Considering the available data for the last three years find the least square regression line y = a + b x, where

image text in transcribed

iii) Using the regression line found in ii) determine 4th year demand.

iv) Forecast the rounded-off monthly demand for each of the months of year 4.

b=x2nx2xynxy;a=ybx

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

Recommended Textbook for

Project Management in Practice

Authors: Samuel J. Mantel Jr., Jack R. Meredith, Sco

4th edition

470533013, 978-0470533017

More Books

Students also viewed these General Management questions