Question

Suppose the manager of an ice cream store is trying to forecast the pounds of ice cream that they will sell based on what they have sold in past. A time-series trend equation is 25.3 2.1x. What is your forecast for period 7

Answer 1

Based on the information give your forecast for period 7 is 40.

Forecast for period 7

Given:

Time-series trend equation=25.3+2.1x

Period=7

Let x present period 7

Hence:

Forecast for period 7 =25.3 +2.1(7)

Forecast for period 7 =25.3 +14.7

Forecast for period 7 =40

Inconclusion your forecast for period 7 is 40.

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