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The monthly sales of a specific model of outdoor sleeping bag are shown in the attached Excel file. What type of forecast model(s) would be
The monthly sales of a specific model of outdoor sleeping bag are shown in the attached Excel file. What type of forecast model(s) would be appropriate to use for this type of data? Explain your answer, being sure to mention level, seasonality, and trend.In your excel file upload, provide a forecast using this method.
A B 1 Date Sales 2 2019-01-01 129 3 2019-02-01 126 4 2019-03-01 163 5 2019-04-01 172 6 2019-05-01 226 7 2019-06-01 169 8 2019-07-01 272 9 2019-08-01 242 10 2019-09-01 238 11 2019-10-01 204 12 2019-11-01 54 13 2019-12-01 61 14 2020-01-01 158 15 2020-02-01 240 16 2020-03-01 265 17 2020-04-01 280 18 2020-05-01 257 19 2020-06-01 257 20 2020-07-01 342 21 2020-08-01 387 22 2020-09-01 250 23 2020-10-01 247 24 2020-11-01 162 25 2020-12-01 97 26 2021-01-01 260 27 2021-02-01 289 28 2021-03-01 273 29 2021-04-01 287 30 2021-05-01 320 31 2021-06-01 347 32 2021-07-01 391 33 2021-08-01 458 34 2021-09-01 341 35 2021-10-01 347 36 2021-11-01 171 37 2021-12-01 202
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Step: 1
Below is a stepbystep guide on how to forecast the monthly sales of your sleeping bag model using HoltWinters Exponential Smoothing This method is appropriate based on your dataset as it captures both ...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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