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Say we have 60 periods of monthly sales data. Make seasonal forecast model for the data: What should the forecast be for months 61 -

  1. Say we have 60 periods of monthly sales data. Make seasonal forecast model for the data:
    1. What should the forecast be for months 61 - 72?
    2. What is the MFE?
    3. What is the MAD?
    4. What is the MAPE
    5. What is the approximate standard deviation of forecast error?
    6. While forecasting, what is the first thing to be done?
Period Demand Period Demand
1 968 31 1082
2 848 32 1298
3 866 33 1071
4 857 34 1213
5 823 35 1299
6 992 36 1324
7 1071 37 968
8 1310 38 901
9 1050 39 875
10 1190 40 815
11 1260 41 882
12 1365 42 992
13 988 43 1029
14 893 44 1260
15 910 45 1092
16 865 46 1109
17 823 47 1313
18 898 48 1338
19 1029 49 998
20 1260 50 928
21 1008 51 875
22 1178 52 874
23 1273 53 882
24 1420 54 983
25 978 55 1050
26 928 56 1323
27 857 57 1103
28 840 58 1132
29 815 59 1260
30 926 60 1351

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