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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
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 judgment for the 4 months (March, April, May and June): Month Unit Sales JJ Aug Sep 102 93 95 110 126 119 Nov Dec Management's Forecast - Jan Feb Ma Apr May Jun 90 84 101 98 10 112 122 114 108 112 a) 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) Month Unit Sales Naive Forecast Jul Aug Sep Oct Nov 102 93 96 110 126 Dec Jan Fab 119 90 84 Mar 101 98 Apr May Jun 90 112 - MAPE for the forecast developed by the naive approach % (round your response to two decimal places). c) When comparing MAPE for the two approaches, the better forecast is achieved using the -
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