Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following model is used for forecasting the sales of chocolate bars (in thousands) and was established using quarterly data from the quarter index t=1

image text in transcribedimage text in transcribed
image text in transcribedimage text in transcribed
The following model is used for forecasting the sales of chocolate bars (in thousands) and was established using quarterly data from the quarter index t=1 at Quarter 1, 2015: T+=24.369+1.71t Assuming a multiplicative model, the seasonal indices have been calculated: Q1 0.996 Q2 0.915 Q3 0.934 Q4 1.155 Using trend and seasonality, the sales forecast for the second quarter of 2021 is thousands (provide your answer to 2 decimal places). CheckThe following table shows the actual values and forecast values calculated using a linear trend with seasonality model for a time series of quarterly price index: _ The Mean Absolute Deviation (MAD) for the forecast method is :I (please round your answer to 2 decimal places). Check

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_2

Step: 3

blur-text-image_3

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

Elementary Linear Algebra

Authors: Ron Larson

8th Edition

1305877020, 9781305877023

More Books

Students also viewed these Mathematics questions