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Forecasting Assignment

Mar 2, 2022 | Mathematics - Statistics | 0 comments

Mar 2, 2022 | Mathematics - Statistics | 0 comments

Forecasting Assignment

Answer the following questions and upload to Canvas. Submit in Word or PDF format.  Show your work  and upload the Excel sheet as well. All the writing parts must be your original writing, don’t  quote, write in your own words.
The following table presents the orders of Samson Company for the last 36 months (3 years).
Month
Order Year 1
Order Year 2
Order Year 3
January
502
614
712
February
408
592
698
March
491
584
686
April
456
532
644
May
481
599
694
June
511
604
702
July
522
624
724
August
500
612
716
September
510
625
732
October
512
627
740
November
520
650
745
December
536
680
756

Use the data in the above table and regression analysis to forecast the orders for the next 12 months (4th year). Include your excel work sheet and your work in your write up. Show the regression equation, values of intercept, slope, correlation coefficient and coefficient determination and the forecast of orders for the next 12 months.
Explain how you could make your forecasts results more reliable by incorporating a qualitative research to your quantitative results.

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