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UNIT SALES MANAGEMENT'S FORECAST MONTH July 100 August 93 September 96 October 110 November 124 December M 119 KHAM 92 January February 83 March 101 120 April 96 114 May 89 110 June 108 S 108

UNIT SALES MANAGEMENT'S FORECAST MONTH July 100 August 93 September 96 October 110 November 124 December M 119 KHAM 92 January February 83 March 101 120 April 96 114 May 89 110 June 108 S 108

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Sales of quilt covers at Bud Banis' department store in Carbondale over the past year are shown below. Management prepared a forecast using a combination of exponential smoothing and its collective judgment for the 4 months (March, April, May, and June):                     a) Compute MAD and MAPE for management's technique.
b) Do management's results outperform (i.e., have smaller MAD and MAPE than) a naive forecast?
c) Which forecast do you recommend, based on lower forecast error?
UNIT SALES MANAGEMENT'S FORECAST MONTH July 100 August 93 September 96 October 110 November 124 December M 119 KHAM 92 January February 83 March 101 120 April 96 114 May 89 110 June 108 S 108
Transcribed Image Text:UNIT SALES MANAGEMENT'S FORECAST MONTH July 100 August 93 September 96 October 110 November 124 December M 119 KHAM 92 January February 83 March 101 120 April 96 114 May 89 110 June 108 S 108
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