Practical Management Science, Loose-leaf Version
5th Edition
ISBN: 9781305631540
Author: WINSTON, Wayne L.; Albright, S. Christian
Publisher: Cengage Learning
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Chapter 14.3, Problem 9P
Summary Introduction
To determine: The MAPE for the power trendline.
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The following table shows the number of televisions sold over the last ten years at a local electronic store.
YEAR
TV SALES
1
150
2
300
3
480
4
600
5
630
6
640
7
700
8
825
9
900
10
980
Using trend projection, develop a formula to predict sales for years 11 and 12. You have to show all working. You will need to develop a table to calculate the slope and the intercept.
Use that formula to forecast television sales for years 11 and 12.
A company's annual profits have a trend line given by Y = 10,000t + 5,000, where Y is the trend and t is the year with t = 0 in 2015. What is the forecasted profit for the year 2021 using an additive model if the seasonal variation for that year is 2,500?
The following table shows the number of televisions sold over the last ten years at a local electronic store.YEAR TV SALES1 1502 3003 4804 6005 6306 6407 7008 8259 90010 980
i. Using trend projection, develop a formula to predict sales for years 11 and 12. Show all working and develop a table to calculate the slope and the intercept.
ii. Use that formula to forecast television sales for years 11 and 12.
Chapter 14 Solutions
Practical Management Science, Loose-leaf Version
Ch. 14.3 - Prob. 1PCh. 14.3 - Prob. 2PCh. 14.3 - Prob. 3PCh. 14.3 - Prob. 4PCh. 14.3 - Prob. 5PCh. 14.3 - Prob. 6PCh. 14.3 - Prob. 7PCh. 14.3 - Prob. 8PCh. 14.3 - Prob. 9PCh. 14.3 - Prob. 10P
Ch. 14.4 - Prob. 12PCh. 14.4 - Prob. 13PCh. 14.4 - Prob. 14PCh. 14.4 - Prob. 15PCh. 14.4 - Prob. 16PCh. 14.4 - Prob. 17PCh. 14.6 - Prob. 19PCh. 14.6 - Prob. 20PCh. 14.6 - The file P14_21.xlsx contains the weekly sales of...Ch. 14.6 - Prob. 22PCh. 14.7 - Prob. 23PCh. 14.7 - Prob. 24PCh. 14.7 - Prob. 25PCh. 14.7 - Prob. 26PCh. 14.7 - Prob. 27PCh. 14.7 - Prob. 28PCh. 14.7 - Prob. 29PCh. 14.7 - Prob. 30PCh. 14 - Prob. 31PCh. 14 - Prob. 32PCh. 14 - Prob. 33PCh. 14 - Prob. 34PCh. 14 - Prob. 35PCh. 14 - Prob. 36PCh. 14 - Prob. 37PCh. 14 - Prob. 39PCh. 14 - Prob. 40PCh. 14 - Prob. 41PCh. 14 - Prob. 42PCh. 14 - Prob. 43PCh. 14 - Prob. 44PCh. 14 - Prob. 45PCh. 14 - Prob. 46PCh. 14 - Prob. 49P
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