Using the Excel Spreadsheet Template at OM6 online (CengageBrain or CengageNow) forecast the demand for the sales of MP3 players at Just Say Music.
Forecasts and actual sales of MP3 players at Just Say Music are as follows:
Month Forecast Actual Sales
March 150 170
April 220 229
May 205 192
June 256 241
July 250 238
August 260 210
September 270 225
October 280 179
1. Plot the data and provide insights about the time series.
2. What is the forecast for November, using a two-period moving average?
3. What is the forecast for November, using a three-period moving average?