Appropriate forecasting model for the sales of toasters

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Reference no: EM131037842

The department manager has decided that the appropriate forecasting model for the sales of toasters at a local department store is the Winter’s Model with additive trend and multiplicative seasonality. Given the time series data set in the Excel spreadsheet (Sheet 1 - Toasters), make the forecasts for the four (4) quarters (Q1, Q2, Q3 and Q4) for the year 2016. Make sure to include a line chart with markers indicating the actual demand, the trend line, and your forecasts. Also, calculate the MAD, MSE, MAPE, bias and the tracking signal for the manager's forecast. Use the supplied Excel spreadsheet to input your answers with the correct formulas. Would you accept the manager’s forecast based on any of the measurements above? Explain briefly. 2. Graduate Management Assessment Tests (GMAT) scores are often used as an indicator of graduate school performance in terms of predicting a student’s grade point average (GPA). Given the following data (Excel File Sheet 2 - GMAT), use a linear regression model to predict the GPA for a student scoring 720 on his/her GMAT exam. Make sure to identify the independent and dependent variables correctly. You must show the output from the Regression model. Also, provide the trend or regression line equation and show your calculations for the forecast. GMAT Score GMAT Score 600 710 540 660 580 740 620 570 650 680 GPA 3.52 3.75 3.24 3.83 3.36 4.00 3.48 3.10 3.31 3.67.

Reference no: EM131037842

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