Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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Chapter 13.3, Problem 9P
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To determine: The MAPE for the power trendline.
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The following table shows the number of televisions sold over the last ten years at a local electronic store.
YEAR
TV SALES
1
150
2
300
3
480
4
600
5
630
6
640
7
700
8
825
9
900
10
980
Using trend projection, develop a formula to predict sales for years 11 and 12. You have to show all working. You will need to develop a table to calculate the slope and the intercept.
Use that formula to forecast television sales for years 11 and 12.
A company's annual profits have a trend line given by Y = 10,000t + 5,000, where Y is the trend and t is the year with t = 0 in 2015. What is the forecasted profit for the year 2021 using an additive model if the seasonal variation for that year is 2,500?
The following table shows the number of televisions sold over the last ten years at a local electronic store.YEAR TV SALES1 1502 3003 4804 6005 6306 6407 7008 8259 90010 980
i. Using trend projection, develop a formula to predict sales for years 11 and 12. Show all working and develop a table to calculate the slope and the intercept.
ii. Use that formula to forecast television sales for years 11 and 12.
Chapter 13 Solutions
Practical Management Science
Ch. 13.3 - The file P13_01.xlsx contains the monthly number...Ch. 13.3 - The file P13_02.xlsx contains five years of...Ch. 13.3 - The file P13_03.xlsx contains monthly data on...Ch. 13.3 - The file P13_04.xlsx lists the monthly sales for a...Ch. 13.3 - Management of a home appliance store wants to...Ch. 13.3 - Do the sales prices of houses in a given community...Ch. 13.3 - Prob. 7PCh. 13.3 - The management of a technology company is trying...Ch. 13.3 - Prob. 9PCh. 13.3 - Sometimes curvature in a scatterplot can be fit...
Ch. 13.4 - Prob. 12PCh. 13.4 - A trucking company wants to predict the yearly...Ch. 13.4 - An antique collector believes that the price...Ch. 13.4 - Stock market analysts are continually looking for...Ch. 13.4 - Suppose that a regional express delivery service...Ch. 13.4 - The owner of a restaurant in Bloomington, Indiana,...Ch. 13.6 - The file P13_19.xlsx contains the weekly sales of...Ch. 13.6 - The file P13_20.xlsx contains the monthly sales of...Ch. 13.6 - The file P13_21.xlsx contains the weekly sales of...Ch. 13.6 - The file P13_22.xlsx contains total monthly U.S....Ch. 13.7 - You have been assigned to forecast the number of...Ch. 13.7 - Simple exponential smoothing with = 0.3 is being...Ch. 13.7 - The file P13_25.xlsx contains the quarterly...Ch. 13.7 - The file P13_26.xlsx contains the monthly number...Ch. 13.7 - The file P13_27.xlsx contains yearly data on the...Ch. 13.7 - The file P13_28.xlsx contains monthly retail sales...Ch. 13.7 - The file P13_29.xlsx contains monthly time series...Ch. 13.7 - A version of simple exponential smoothing can be...Ch. 13 - Prob. 31PCh. 13 - Prob. 32PCh. 13 - Management of a home appliance store would like to...Ch. 13 - A small computer chip manufacturer wants to...Ch. 13 - The file P13_35.xlsx contains the amount of money...Ch. 13 - Prob. 36PCh. 13 - Prob. 37PCh. 13 - Prob. 39PCh. 13 - The Baker Company wants to develop a budget to...Ch. 13 - Prob. 41PCh. 13 - The file P13_42.xlsx contains monthly data on...Ch. 13 - Prob. 43PCh. 13 - Prob. 44PCh. 13 - Prob. 45PCh. 13 - Prob. 46PCh. 13 - Prob. 49P
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