Quantitative methods for Managers

Quantitative methods for Managers

Answer the Question

MGMT 6108

Forecasting Assignment

Excel is the best tool for calculations

Answer the questions in this document

Attach tables with calculations as appendixes

Be sure to know how to do the problems by hand also.  In the Final test you will be solving small but similar versions of this problems.

Name______________________________

1. The table below shows monthly sales of a motorcycle store during the last two years. The commission for each motorcycle sale is $1,000. The manager wants to estimate how much money he will need for month 25.

Month Sales              Month             Sales

1          195                 13        155

2          210                 14        120

3          190                 15        135

4          170                 16        110

5          180                 17        122

6          156                 18        97

7          134                 19        85

8          155                 20        110

9          145                 21        85

10        165                 22        78

11        128                 23        66

12        135                 24        45

1. Plot and analyze your data.
2. Forecast motorcycle sales and amount of money needed for month 25 using the Naive method.
3. Forecast motorcycle sales and amount of money needed for month 25 using MA3.
4. Forecast motorcycle sales and amount of money needed for month 25 using ES with a=0.2.
5. Forecast motorcycle sales and amount of money needed for month 25 using ES with a=0.6.
6. Plot the data and identify the best method to forecast motorcycle sales.
7. Table below shows monthly beer sales at Gordon’s Liquor Store in 2017.

Month Sales

Jan     900

Feb     725

Mar     1000

Apr      800

May     750

Jun     1200

Jul       1000

Aug     1100

Sep     1250

Oct      1050

Nov     1400

Dec     1600

Jan

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