Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

The following information has been collected on the sales of greeting cards for the past 6 weeks. Week Sales ($) 1 85 2 90 3

The following information has been collected on the sales of greeting cards for the past 6 weeks.
WeekSales ($)
185
290
395
4110
5105
6115
  1. Develop a linear trend equation that can be used to forecast sales of greeting cards 
  2. Use the linear trend equation developed in part A to forecast sales for week 7. 
  3. Forecast the sales for week 7 using a three period weighted moving average with weights of 0.6 (week 6), 0.3 (week 5) and 0.1 (week 4). 
  4. Compare and explain why the results in parts B and C are different. 

Step by Step Solution

3.45 Rating (155 Votes )

There are 3 Steps involved in it

Step: 1

a First Calculate the sum of squares Xxn Weekx 1 y yn SSX SSY SP r r Slope Intercept 2 3 ... 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

Quantitative Methods For Business

Authors: Donald Waters

5th Edition

273739476, 978-0273739470

More Books

Students explore these related Economics questions