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Solution Library
Simple Linear Regression for Forecasting Sales
Question
|
Year |
|
1988 |
1989 |
|
1990 |
1991 |
1992 |
1993 |
1994 |
1995 |
1996 |
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|
Sales |
|
328 |
463 |
|
543 |
481 |
514 |
687 |
839 |
861 |
1145 |
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Year |
1997 |
1998 |
1999 |
2000 |
2001 |
2002 |
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2003 |
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2004 |
2005 |
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|
Sales |
1071 |
1271 |
1288 |
1353 |
1591 |
1485 |
|
1625 |
|
1807 |
1713 |
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Year |
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2006 |
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2007 |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
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|
Sales |
|
1920 |
|
2135 |
2053 |
2137 |
2383 |
2390 |
2540 |
2783 |
2900 |
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- Use the regression function in Excel to forecast sales for 1988 to 2015.
- Use simple moving average (with k = 4) to forecast sales for 1992 to 2015.
- Use Mean Absolute Percent Error (MAPE) to determine whether simple linear regression or simple moving average is more accurate in forecasting sales, making sure to clearly show the MAPE values for the two forecasts.
- Plot the actual sales, and your forecasts in parts Q1 and Q2 above on a line graph.
Summary
This question belongs to statistics and discusses about simple linear regression.
Word count: NA
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