Is a simple model or seasonally enhanced model better

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Reference no: EM13897077

Suppose that you have become concerned about the amount of copier paper used in your office after repeatedly running out of supplies. Your assistant keeps track of the number of reams (packages of 500 sheets) for 24 weeks, as follows:

Week:

1

2

3

4

5

6

7

8

9

10

11

12

Reams of paper:

232

263

271

248

235

261

207

243

237

293

243

260

Week:

13

14

15

16

17

18

19

20

21

22

23

24

Reams of paper:

253

270

230

253

238

272

222

243

289

238

262

234

a. Evaluate alternative forecasting models. Is a simple model or a trend or seasonally enhanced model better?

b. How could you use this information to solve the paper shortage problem?

Reference no: EM13897077

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