Question
The data in the table below represent warehouse club and superstore sales in the eastern and central United States on a monthly basis. The data
The data in the table below represent warehouse club and superstore sales in the eastern and central United States on a monthly basis. The data are in millions of dollars.
a. Prepare a time-series plot of the data, and visually inspect that plot to determine the trend characteristics in this series.
b. Use and exponential smoothing model to develop a forecast of sales for the next 12 months, and explain which forecasting model is the best choice. Plot the actual and forecast values. Determine the MAPE for the model during the historical period.
Date | Sales |
Jan-02 | 2,580 |
Feb-02 | 2,616 |
Mar-02 | 2,838 |
Apr-02 | 2,985 |
May-02 | 3,258 |
Jun-02 | 3,107 |
Jul-02 | 3,097 |
Aug-02 | 3,288 |
Sep-02 | 3,077 |
Oct-02 | 3,429 |
Nov-02 | 4,011 |
Dec-02 | 5,739 |
Jan-03 | 2,877 |
Feb-03 | 2,885 |
Mar-03 | 3,259 |
Apr-03 | 3,454 |
May-03 | 3,771 |
Jun-03 | 3,667 |
Jul-03 | 3,743 |
Aug-03 | 3,792 |
Sep-03 | 3,699 |
Oct-03 | 4,082 |
Nov-03 | 4,727 |
Dec-03 | 6,672 |
Jan-04 | 3,560 |
Feb-04 | 3,575 |
Mar-04 | 4,220 |
Apr-04 | 4,282 |
May-04 | 4,594 |
Jun-04 | 4,691 |
Jul-04 | 4,629 |
Aug-04 | 4,795 |
Sep-04 | 4,632 |
Oct-04 | 5,067 |
Nov-04 | 5,746 |
Dec-04 | 7,965 |
Jan-05 | 4,317 |
Feb-05 | 4,118 |
Mar-05 | 4,855 |
Apr-05 | 4,999 |
May-05 | 5,343 |
Jun-05 | 5,392 |
Jul-05 | 5,274 |
Aug-05 | 5,435 |
Sep-05 | 5,217 |
Oct-05 | 5,460 |
Nov-05 | 6,288 |
Dec-05 | 8,403 |
Jan-06 | 4,758 |
Feb-06 | 4,914 |
Mar-06 | 5,431 |
Apr-06 | 5,474 |
May-06 | 6,124 |
Jun-06 | 6,027 |
Jul-06 | 5,914 |
Aug-06 | 6,244 |
Sep-06 | 5,808 |
Oct-06 | 6,373 |
Nov-06 | 6,994 |
Dec-06 | 9,018 |
Jan-07 | 5,694 |
Feb-07 | 5,431 |
Mar-07 | 6,240 |
Apr-07 | 6,101 |
May-07 | 6,849 |
Jun-07 | 6,694 |
Jul-07 | 6,815 |
Aug-07 | 6,948 |
Sep-07 | 6,450 |
Oct-07 | 7,190 |
Nov-07 | 7,738 |
Dec-07 | 9,769 |
Jan-08 | 6,665 |
Feb-08 | 6,400 |
Mar-08 | 7,277 |
Apr-08 | 7,584 |
May-08 | 8,169 |
Jun-08 | 8,179 |
Jul-08 | 8,118 |
Aug-08 | 8,284 |
Sep-08 | 7,962 |
Oct-08 | 8,636 |
Nov-08 | 9,433 |
Dec-08 | 11,786 |
Jan-09 | 8,082 |
Feb-09 | 7,761 |
Mar-09 | 8,994 |
Apr-09 | 8,803 |
May-09 | 9,712 |
Jun-09 | 9,843 |
Jul-09 | 9,769 |
Aug-09 | 9,944 |
Sep-09 | 9,582 |
Oct-09 | 10,209 |
Nov-09 | 11,115 |
Dec-09 | 14,995 |
Jan-10 | 9,183 |
Feb-10 | 9,478 |
Mar-10 | 10,751 |
Apr-10 | 10,518 |
May-10 | 11,349 |
Jun-10 | 11,728 |
Jul-10 | 11,590 |
Aug-10 | 11,871 |
Sep-10 | 11,336 |
Oct-10 | 11,986 |
Nov-10 | 13,130 |
Dec-10 | 16,694 |
Jan-11 | 11,195 |
Feb-11 | 10,919 |
Mar-11 | 12,389 |
Apr-11 | 12,619 |
May-11 | 13,489 |
Jun-11 | 13,620 |
Jul-11 | 13,438 |
Aug-11 | 14,084 |
Sep-11 | 13,172 |
Oct-11 | 14,040 |
Nov-11 | 15,759 |
Dec-11 | 19,992 |
Jan-12 | 13,162 |
Feb-12 | 13,394 |
Mar-12 | 15,285 |
Apr-12 | 14,467 |
May-12 | 16,086 |
Jun-12 | 16,027 |
Jul-12 | 15,622 |
Aug-12 | 16,360 |
Sep-12 | 14,714 |
Oct-12 | 15,894 |
Nov-12 | 18,152 |
Dec-12 | 22,089 |
Jan-13 | 15,161 |
Feb-13 | 15,342 |
Mar-13 | 16,997 |
Apr-13 | 16,623 |
May-13 | 18,064 |
Jun-13 | 17,605 |
Jul-13 | 17,746 |
Aug-13 | 18,907 |
Sep-13 | 16,735 |
Oct-13 | 18,146 |
Nov-13 | 20,336 |
Dec-13 | 24,665 |
Jan-14 | 17,686 |
Feb-14 | 17,908 |
Mar-14 | 18,691 |
Apr-14 | 19,030 |
May-14 | 20,623 |
Jun-14 | 19,596 |
Jul-14 | 20,122 |
Aug-14 | 20,029 |
Sep-14 | 18,669 |
Oct-14 | 20,518 |
Nov-14 | 21,967 |
Dec-14 | 27,584 |
Jan-15 | 19,315 |
Feb-15 | 19,186 |
Mar-15 | 21,211 |
Apr-15 | 20,985 |
May-15 | 22,385 |
Jun-15 | 22,223 |
Jul-15 | 22,602 |
Aug-15 | 22,456 |
Sep-15 | 21,418 |
Oct-15 | 23,092 |
Nov-15 | 24,598 |
Dec-15 | 30,706 |
Jan-16 | 21,692 |
Feb-16 | 21,699 |
Mar-16 | 23,402 |
Apr-16 | 24,046 |
May-16 | 24,881 |
Jun-16 | 24,602 |
Jul-16 | 24,631 |
Aug-16 | 24,831 |
Sep-16 | 23,603 |
Oct-16 | 24,608 |
Nov-16 | 26,705 |
Dec-16 | 34,023 |
Jan-17 | 23,837 |
Feb-17 | 23,438 |
Mar-17 | 26,305 |
Apr-17 | 25,429 |
May-17 | 27,152 |
Jun-17 | 27,218 |
Jul-17 | 26,722 |
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