Forecasting method, Marketing Management

Q :  Regress widget sales on time and add the (a) line, (b) linear equation and (c) R2 (variance explained) to the graph you created in Q3.  Please explain the meaning of each.   Also, please characterize the trend if one appears to exist in the data (be specific).

Q:  Take your understanding of seasonality from Q1 and use this understanding to employ a 3 month moving average to capture this seasonality effect.  Please describe your forecasting method in words (8) and then implement this forecasting method (forecast through period 33) in Excel (10) (use "Data" tab, column G).  Once you have completed implementing this method, assess its performance (RSFE, MAD, MSE, and MAPE using the appropriate columns I-AF). 

For example, suppose that you observe an 8 period season (see Figure 1).  You might develop a forecasting model for the NEXT SEASON that is based on observations from the PREVIOUS SEASON!  For a more specific example, (see Figure 1) a 3-period moving average forecast for period 13 might appropriately be based on an average of periods (4,5 & 6)!  To visualize this example, please see Figure 1.

 

Figure 1: Example of Seasonality (for example purposes only - - graph not based on actual exam data)

Q Consider both the forecasting method that you examined in Q5 in combination with the forecasting method that you examined in Q4.  Combine these two methods to create a new forecasting method.  Both describe this method in words (8) and implement this new forecasting method (forecast through period 33) in Excel (10) (use "Data" tab, column h). Once you have completed implementing this method, assess its performance (RSFE, MAD, MSE, MAPE using the appropriate columns I-AF) in comparison to the forecasts in Q2 and Q5 (1).  Why is this (or is this not) a better forecasting method (2)?

Posted Date: 2/25/2013 6:06:17 AM | Location : United States







Related Discussions:- Forecasting method, Assignment Help, Ask Question on Forecasting method, Get Answer, Expert's Help, Forecasting method Discussions

Write discussion on Forecasting method
Your posts are moderated
Related Questions
have to do case study for Pepcid AC Racing to OTC-- anyone have idea what are the weaknesses in this case?? Also, can you think think of any alternative solution besides either to

To equip future accountants with the knowledge of integrating the information system of an organization.   Outcome: At the completion of the assignment, students should be able

Explain the various approaches that are followed by FNCG companies in test marketing

Question 1: To what extent can the Marketing Concept guarantee business success in today's highly competitive business environment? Question 2: (a) Define the term mark

i would like to join your company as academic writer. how do i go about it?

How are fewer buyers in business market and the consumer market affected? Fewer Buyers: Within business market, buyers are fewer in number while compared to consumer market.

E- Marketing environment: The marketing environment is ever changing, providing planty of opportunities to develop new market products, new markets, and new media of communicat

The company 2TW manufactures and sells products overall Europe and is organised into dozens of strategic business units (SBUs). SBU managers, who report to regional directors, have

Steps involved in designing a channel system: Formulating the channel objective: Formulating the channel objectives is the first step in designing a channel system. The objecti

Question : Competitive tourism and hospitality organisations strive to deliver a high level of service quality to their customers. As a Marketing Manager of one of these org