Question 4 A pharmacist has been monitoring sales of a certain over-the-counter pain reliever. Monthly sales during...
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Question 4
A pharmacist has been monitoring sales of a certainover-the-counter pain reliever. Monthly sales during the last 15months were:
Month
Number sold
Month
Number sold
Month
Number sold
1
36
6
49
11
52
2
38
7
50
12
55
3
42
8
49
13
54
4
44
9
52
14
56
5
48
10
48
15
57
- Using 3-Month Weighted Moving Average using 0.2, 0.3, and 0.5with the heaviest weights applied to the most recent months,develop forecasts for months from 11 to16.      Â
- Using Exponential Smoothing using an α = 0.4 and the10th Month forecast of 50, develop forecasts for monthsfrom 11 to16.             Â
- Using Trend Projection, develop forecasts for months from 11 to16.
- Justify which method you would suggest using to predict futuresales.
Question 4
A pharmacist has been monitoring sales of a certainover-the-counter pain reliever. Monthly sales during the last 15months were:
Month | Number sold | Month | Number sold | Month | Number sold | ||
1 | 36 | 6 | 49 | 11 | 52 | ||
2 | 38 | 7 | 50 | 12 | 55 | ||
3 | 42 | 8 | 49 | 13 | 54 | ||
4 | 44 | 9 | 52 | 14 | 56 | ||
5 | 48 | 10 | 48 | 15 | 57 |
- Using 3-Month Weighted Moving Average using 0.2, 0.3, and 0.5with the heaviest weights applied to the most recent months,develop forecasts for months from 11 to16.      Â
- Using Exponential Smoothing using an α = 0.4 and the10th Month forecast of 50, develop forecasts for monthsfrom 11 to16.             Â
- Using Trend Projection, develop forecasts for months from 11 to16.
- Justify which method you would suggest using to predict futuresales.
Answer & Explanation Solved by verified expert
4.0 Ratings (587 Votes)
d based on the error measure MAD it is
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