Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sales of quilt covers at Bud Banis's discount department store in Carbondale over the past year are shown below. Management prepared a forecast using a

Sales of quilt covers at Bud Banis's discount department store in Carbondale over the past year are shown below. Management prepared a forecast using a combination of exponential smoothing and its collective judgment for the 4 months (March, April, May, and June):
\table[[Month,Jul,Aug,Sep,Oct,Nov,Dec,Jan,Feb,Mar,Apr,May,Jun],[Unit Sales,98,97,94,108,126,118,92,85,102,98,88,108],[Management's Forecast,-,-,-,-,-,-,-,-,125,116,112,110]]
a) MAD for the forecast developed by the management's technique = sales (round your response to two decimal places).
MAPE for the forecast developed by the management's technique =%(round your response to two decimal places).
b) Using the Naive Method, the forecast for period March through June is (round your response to two decimal places):
\table[[Month,Jul,Aug,Sep,Oct,Nov,Dec,Jan,Feb,Mar,Apr,May,Jun],[Unit Sales,98,97,94,108,126,118,92,85,102,98,88,108],[Naive Forecast,-,-,-,-,-,-,-,-,,,,
image text in transcribed

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

The Restaurant From Concept to Operation

Authors: John R Walker

6th Edition

9781118139950, 470626437, 111813995X, 978-0470626436

More Books

Students also viewed these General Management questions

Question

What is commodity approach?

Answered: 1 week ago

Question

Creative features i can add to my word ducument

Answered: 1 week ago