Time Series Forecasting for Operations Management
The following table shows the past two years of quarterly sales information. Assume that there are both trend and seasonal factors and that the seasonal cycle is one year. Use time series decomposition to forecast quarterly sales for the next year.
Quarter Sales
1 160
2 195
3 150
4 140
Quarter Sales
5 215
6 240
7 205
8 190
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Hi
Please find attached the solution to your problem. The workings are also presented in chart form as the analysis is done using Minitab.
Regards
Solution _ Sales Forecasting
A summary of the sales forecast using eight quarter ...
Solution Summary
Uses time series decomposition to forecast quarterly sales for the next year