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Cooper Toys sells a portable baby stroller called the Tot n' Trot. The past two years of demand for Tot n'Trots are shown in the table below. Use an appropriate method to forecast the 6 months from January through June 2006. Please defend your use of forecasting method (i.e. why you selected your particular method). If you are using smoothing constants, you must also defend (mathematically please) why you selected the values that you did. How good is your forecast?
Jan 2004
1200
Feb
1400
Mar
1450
Apr
1580
May
1796
June
2102
July
2152
Aug
2022
Sept
1888
Oct
1938
Nov
1988
Dec
1839
Jan 2005
1684
1944
1994
2154
2430
2827
2877
2687
2492
2542
2592
2382
Using the forecasting paper supplied, "Forecasting demand for single-period products: A case study in the apparel industry", Mostard, Teunter, de Koster, European Journal of Operational Research, Vol 211, and the demand information given in the Excel spreadsheet "demand data for forecasting":
Now read Section 3.2.1 of the paper. Assume you have five experts and their forecasts are given in the "experts" sheet. Using the method given:
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