Find the monthly forecast and seasonal indices for year 2021, given the following data:
Find the monthly forecast and seasonal indices for year 2021, given the following data:
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.3: Simple Regression Models
Problem 9P
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Q3) You work for BMW as a planner. BMW sold 1,081,000 of its BMW-X5 cars in 2019 and sold 1,189,100 of its BMW-X5 cars in 2020. BMW is expecting to increase its annual sales for BMW- X5 in year 2021 by 10% compared to year 2020 (total sales volume = 1,308,010). Find the monthly
(Please considers the monthly seasonal effect)
MONTH |
Actual Car Sales (2019) |
Actual Car Sales (2020) |
Forecasted Car Sales (2021) |
Jan |
80,000 |
88,000 |
|
Feb |
85,000 |
93,500 |
|
Mar |
86,000 |
94,600 |
|
Apr |
90,000 |
99,000 |
|
May |
92,000 |
101,200 |
|
June |
100,000 |
110,000 |
|
July |
120,000 |
132,000 |
|
Aug |
90,000 |
99,000 |
|
Sept |
86,000 |
94,600 |
|
Oct |
85,000 |
93,500 |
|
Nov |
84,000 |
92,400 |
|
Dec |
83,000 |
91,300 |
|
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