Pricilla Phranklin opened her clothing store, Pricilla Phashions, in Downtown Dover a little over three years ago. Pants, skirts, blouses, and shirts have fairly consistent sales, while things like shorts, sweater and outerwear are highly seasonal. On the other hand, dresses are a little harder to predict. Pricilla is hiring you to arrive at the best forecasting method for dresses. The following table contains three years of dress sales data Year 1 Month Demand Jan Feb Mar Apr Ap May Jun ww Jul . Aug Sep Oct Nov Dec Total 186 222 *********** Year 2 Demand 217 220 239 2.99 362 www 727 *** 376 www 341 290 296 600 318 708 4694 Year 3 Deman d 212 245 252 376 919 757 10 404 354 324 338 618 356 713 4949

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.7: Probability
Problem 60SE: Use this data for the exercises that follow: In 2013, there were roughly 317 million citizens in the...
icon
Related questions
Question

4.         Using the actual Year-3 numbers check your forecast accuracy, by calculating CFE, MSE, MAD, MAPE, and the tracking signal on microsoft Excel

Pricilla Phranklin opened her clothing store, Pricilla Phashions, in Downtown Dover a little over three years ago. Pants, skirts, blouses, and shirts have fairly consistent sales, while things like shorts, sweater and
outerwear are highly seasonal. On the other hand, dresses are a little harder to predict. Pricilla is hiring you to arrive at the best forecasting method for dresses.
The following table contains three years of dress sales data
Year 3
Deman
d
Year 1
Month Demand
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Total
186
222
220
356
720
367
340
293
305
600
325
679
4613
Year 2
Demand
217
220
239
362
727
376
341
290
296
600
318
708
4694
212
245
252
376
757
404
354
324
338
618
356
713
4949
Transcribed Image Text:Pricilla Phranklin opened her clothing store, Pricilla Phashions, in Downtown Dover a little over three years ago. Pants, skirts, blouses, and shirts have fairly consistent sales, while things like shorts, sweater and outerwear are highly seasonal. On the other hand, dresses are a little harder to predict. Pricilla is hiring you to arrive at the best forecasting method for dresses. The following table contains three years of dress sales data Year 3 Deman d Year 1 Month Demand Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total 186 222 220 356 720 367 340 293 305 600 325 679 4613 Year 2 Demand 217 220 239 362 727 376 341 290 296 600 318 708 4694 212 245 252 376 757 404 354 324 338 618 356 713 4949
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps with 4 images

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt