Forecast Model for DataNet

User Generated

eicnffnebe434

Business Finance

Description

DataNet Excel attachment

1.  DataNet is an Internet service where clients can find information and purchase various items such as airline tickets, stereo equipment, and just about any other consumer product. DataNet has been in operation for four years. Data on monthly calls for service for the time that the company has been in business are in an Excel data file called DataNet.  (Download the DataNet file.)  In order to have appropriate staffing levels each month, the company wishes to generate a one-month ahead forecast.

a.   Develop a 3-period Moving Average model and provide the forecast for month 49.

b.  Compute the MAD, MSE, and MAPE for the model developed in part a.

c.  Develop a linear trend model and provide the forecast for month 49

d.  Compute the MAD, MSE, and MAPE for the model developed in part c.

e.  Determine the optimal smoothing constant for a single exponential smoothing model such that the MAD value is minimized.  Discuss this result.  What does it actually mean?

f.  Based on the model developed in part e., indicate what the month 49 forecast value is.

g.  Compute the MAD, MSE, and MAPE for the model developed in parts e and f.

h.  Based on the responses to parts a. – g., what forecast would you recommend that DataNet use for period 49?


Unformatted Attachment Preview

Jan Jan Jan Jan Month Number Calls Received 1 23.500 2 21.700 3 18.750 4 22.000 5 23.000 6 26.200 7 27.300 8 29.300 9 31.200 10 34.200 11 39.500 12 43.400 13 23.500 14 23.400 15 21.400 16 24.200 17 26.900 18 29.700 19 31.100 20 32.400 21 34.500 22 35.700 23 42.000 24 42.600 25 31.000 26 30.400 27 29.800 28 32.500 29 34.500 30 33.800 31 34.200 32 36.700 33 39.700 34 42.400 35 43.600 36 47.400 37 32.400 38 35.600 39 31.200 40 34.600 41 36.800 42 35.700 43 37.500 44 40.000 45 43.200 46 46.700 47 50.100 48 52.100 Number of Calls Per Month to DataNet File: DataNet Column B: Month Number (1-48) Column C: Number of Calls to the DataNet service per month
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Explanation & Answer


Anonymous
This is great! Exactly what I wanted.

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