Posted on by Judy

FORECASTING ts such as compn o, South Amei 1. Following are he 10. Eaunotronics manufactures components for use in small electronic products such,a CD players, and radios at plants in Belgium, Germany, and France. The parts a by truck to Hamburg, where they are shipped overseas to customers in Mexic the United States, and the Pacific Rim. The company has to reserve space on ships sometimes years in advance. This requires an accurate forecasting model. Follovinnth number of cubic feet of container space the company has used in each of the past 18 mOnkL Space (1,000s ft.3) 10.6 12.7 9.8 11.3 13.6 14.4 12.2 16.7 18.1 19.2 16.3 14.7 18.2 19.6 21.4 22.8 20.6 18.7 Month 3 10 12 13 14 15 17 18 Develop a forecasting model that you believe would provide the company with relatively a forecasts for the next year and indicate the forecasted shipping space required for the next 3 n The Whistle Stan Caf month in Weams Georoia is well known for its popular homemade ice creal https://d2vlcm61l7u1fs.cloudfront.net/media%2Fa58%2Fa58c4084-3560-4d77-9038-7370b9090e86%2Fimage

https://d2vlcm61l7u1fs.cloudfront.net/media%2Fccf%2Fccf0e295-0d37-4dae-9463-b95fb1cdd8c1%2Fphpk1UU0B.png
In the time series plot, we see an upward trend. However, no particular cyclical pattern of seasonality is evident in the time seris plot.
Therefore, linear trend line forecast should be used to forecast for next year.
This can be done in Excel using formula SLOPE and INTERCEPT
https://d2vlcm61l7u1fs.cloudfront.net/media%2F406%2F406276d8-aa31-43e9-a335-38fa8af02a87%2FphpAWH2rb.png
Formula:
F4 =SLOPE(B2:B19,A2:A19)
F5 =INTERCEPT(B2:B19,A2:A19)
Formula for calculating forecast values: C2 =A2*$F$4+$F$5 copy to C2:C31
 
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