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Forecast of sales in the next month

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Reference no: EM132830933

1. The Hammaker Company's newest product has had the following sales during its first five months: 5, 17, 29, 41, 39. The sales manager now wants a forecast of sales in the next month.

a. use last value method

b. use the averaging method

c. Use the moving average method with the three most recent months

2. Sales of stoves have been ging well for the Good-Value Department Store. these sales for the past five months have been 15, 18, 12, 17, 13. use the following methods to obtain a forecast of sales for the next month

a. use last value method

b. use the averaging method

c. use the moving average method with three months

3. You have been forecasting sales the last four quarters. These forecasts and the true values that subsequently were obtained are shown below.

Quarter Forecast True Value

1 327 345
2 332 317
3 328 336
4 330 311
 
a. Calculate the forecasting error for each quarter . then calculate the MAD and MSE.

Reference no: EM132830933

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