Problem #1- The table below shows the actual sales of a Product X sold by Compa January to December of 2019. Month Actual Sales Naïve Forecast- Absolute Value of (# of Product X) Sales Errors (# of Product X) 1,860 2,033 Jan/19 Feb/19 Mar/19 Apr/19 May/19 Jun/19 3,556 4,211 6,250 7,990 Jul/19 Aug/19 Sep/19 Oct/19 Nov/19 Dec/19 Jan/20 10,250 9,850 9,980 9,990 7,895 5,353 Explain the calculation method for the Naïve Forecast model. - If at the end of every month from January/2019 to December/2019, the Sales Manager a) ( b) would have applied the Naïve Model, calculate the Naïve Forecast values for the months of February/2019 and all the way to January/2020. Enter those values on the table above. c) Calculate the Absolute Value of Error for every forecasted month, from February/2019 to January/2020. Enter those values on the table above.
Problem #1- The table below shows the actual sales of a Product X sold by Compa January to December of 2019. Month Actual Sales Naïve Forecast- Absolute Value of (# of Product X) Sales Errors (# of Product X) 1,860 2,033 Jan/19 Feb/19 Mar/19 Apr/19 May/19 Jun/19 3,556 4,211 6,250 7,990 Jul/19 Aug/19 Sep/19 Oct/19 Nov/19 Dec/19 Jan/20 10,250 9,850 9,980 9,990 7,895 5,353 Explain the calculation method for the Naïve Forecast model. - If at the end of every month from January/2019 to December/2019, the Sales Manager a) ( b) would have applied the Naïve Model, calculate the Naïve Forecast values for the months of February/2019 and all the way to January/2020. Enter those values on the table above. c) Calculate the Absolute Value of Error for every forecasted month, from February/2019 to January/2020. Enter those values on the table above.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section: Chapter Questions
Problem 42P: The file P13_42.xlsx contains monthly data on consumer revolving credit (in millions of dollars)...
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I just need the first 3 please (:
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