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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

Solution Preview

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

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