Key Objective: Crusty Pizza Executives must forecast December sales for the 10 stores in worksheet “Time...
Key Objective: Crusty Pizza Executives must forecast December sales for the 10 stores in worksheet “Time Series”.
- Use data in worksheet “Time Series”. Plot the data for each store.
- Develop a sales forecast for each of the 10 stores for the month of December, using:
- A three month moving average
- A 2- month weighted moving average, with weights of 0.7 on the most recent month and 0.3 on the older month.
- Exponential smoothing with an alpha value of 0.25. Assume February forecast is January’s actual.
- Compute measures of forecast accuracy to recommend the best forecasting technique to use for the data.
- Rank the 10 stores based on the forecasts you made with the technique that you determined (in the above step) to be the best forecasting method.
| Monthly Profit Data for ten stores | ||||||||||||
| Store | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
| A1 | $26,811.50 | $27,322.19 | $21,193.85 | $22,725.94 | $27,066.85 | $28,854.28 | $25,024.06 | $27,066.85 | $23,491.98 | $29,109.63 | $26,300.80 | ? |
| A2 | $973.59 | $1,021.09 | $1,009.21 | $1,329.79 | $1,163.56 | $1,116.07 | $1,211.06 | $1,282.29 | $1,377.28 | $1,068.58 | $1,163.56 | ? |
| A3 | $10,424.42 | $8,687.02 | $8,380.42 | $8,176.02 | $8,584.82 | $8,789.22 | $8,278.22 | $9,709.02 | $8,993.62 | $8,380.42 | $11,344.22 | ? |
| A4 | $28,513.55 | $27,513.08 | $28,263.44 | $25,762.25 | $20,009.51 | $24,761.77 | $21,510.23 | $22,010.46 | $23,261.06 | $20,259.63 | $28,513.55 | ? |
| A5 | $27,107.93 | $21,234.54 | $26,656.13 | $21,234.54 | $24,171.24 | $22,364.04 | $21,686.34 | $24,171.24 | $20,330.95 | $18,523.75 | $21,008.64 | ? |
| A6 | $16,897.72 | $19,009.93 | $16,321.66 | $16,321.66 | $22,658.30 | $20,546.09 | $22,274.26 | $15,361.56 | $21,506.18 | $22,466.28 | $16,129.64 | ? |
| A7 | $15,456.55 | $20,964.06 | $21,141.72 | $15,989.54 | $16,344.86 | $19,720.43 | $19,365.10 | $14,212.92 | $19,187.44 | $20,608.73 | $20,253.41 | ? |
| A8 | $11,021.75 | $8,502.49 | $9,762.12 | $11,441.62 | $10,286.96 | $10,496.90 | $10,286.96 | $11,756.53 | $12,491.31 | $11,546.59 | $12,071.44 | ? |
| A9 | $10,338.61 | $10,232.03 | $10,338.61 | $12,257.11 | $12,683.45 | $11,937.36 | $11,511.03 | $11,937.36 | $8,739.86 | $9,485.94 | $12,043.95 | ? |
| A10 | $6,643.92 | $5,979.53 | $7,507.63 | $6,245.28 | $7,839.83 | $7,042.56 | $5,913.09 | $5,315.14 | $7,906.26 | $6,378.16 | $7,042.56 | ? |
Homework Answers
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Key Objective: Crusty Pizza Executives must
forecast December sales for the 10 stores in worksheet
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Key Objective: Crusty Pizza Executives must forecast December sales for the 10 stores in worksheet “Time Series”. Use d...
Key Objective: Crusty Pizza Executives must forecast December sales for the 10 stores in worksheet “Time Series”. Use data in worksheet “Time Series”. Plot the data for each store. Develop a sales forecast for each of the 10 stores for the month of December, using: A three month moving average A 2- month weighted moving average, with weights of 0.7 on the most recent month and 0.3 on the older month. Exponential smoothing with an alpha value of 0.25. Assume...
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