Reference no: EM132723339
Nick Lurleen is a distributor that supplies a number of Crimson Tide convenience stores in Mobile Alabama. The table below shows the sales of a brand new bottled water product (called the "RT" for "Roll Tide"). The table below contains information on sales during the first eight weeks the product was in business, including an initial forecast of 2,280 units:
Week Actual Demand Forecast
Jul 1 2,220 2,280
Jul 8 2,470
Jul 15 2,450
Jul 22 2,370
Jul 29 2,110
Aug 5 2,490
Aug 12 2,140
Aug 19 2,240
Suppose at the start of July Nick predicted that they would sell 2,280 of these water bottles. Based on this initial forecast, and based on an alpha value of 0.25, what is the forecast for each week starting with July 8 and going through August 19.
Based on the above information, what would have been your forecast for the week of July 15? (two decimal places.)
If you follow this same forecasting process through all the weeks, what would be the forecast in the week of August 19? (two decimal places.)
What is the MAD for this forecast (based on eight weeks of forecasts-Jul 1 through Aug 19)? (two decimal places.)
What is the MAPE for this forecast (based on eight weeks of forecasts-Jul 1 through Aug 19)? (percentage, and two decimal places.)
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