Forecast Model for DataNet

Apr 27th, 2015
Price: $25 USD

Question 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?

Tutor Answer

(Top Tutor) Kelvin B
School: UT Austin

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