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Forecasting

Forecasting

 Answer the following questions and upload to Canvas. Submit in Word or PDF format.  Show your work  and upload the Excel sheet as well. All the writing parts must be your original writing, don't  quote, write in your own words.

The following table presents the orders of Samson Company for the last 36 months (3 years).

Month

Order Year 1

Order Year 2

Order Year 3

January

502

614

712

February

408

592

698

March

491

584

686

April

456

532

644

May

481

599

694

June

511

604

702

July

522

624

724

August

500

612

716

September

510

625

732

October

512

627

740

November

520

650

745

December

536

680

756

  1. Use the data in the above table and regression analysis to forecast the orders for the next 12 months (4th year). Include your excel work sheet and your work in your write up. Show the regression equation, values of intercept, slope, correlation coefficient and coefficient determination and the forecast of orders for the next 12 months.
  2. Explain how you could make your forecast’s results more reliable by incorporating a qualitative research to your quantitative results.

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