OMGT6743 - HW1

Paired Assignment

I will be assigning two unique problems to the class. I will pair off students  for this assignment (note, one group may have three students). Each person will read the article on forecasting and then prepare a one to two paragraph synopsis including purpose and main points.

The article entitled "7 Deadly Sins of Sales Forecasting" can be found here:  7DeadlySinsWhitepaper.pdf

Each pair of students will then be required to converse via the Canvas Discussions area and post their synopsis with their paired partner. I expect at least four exchanges for each pair of students (2 per each student = 4) the first set of posts can be introductory in nature whereas the second set can be the actual paragraphs.  For each pair of students, one of the pair start a new thread & name it accordingly (e.g., Homeowrk#1DeadlySinsJohn/Novine), then use that thread to converse.

This exercise is to enhance interaction between you and your colleagues as well as foster interaction between the professor and all students. This exercise will be weighted 10% of the Homework #1 grade and those who complete the problems and discussion session will receive full credit for this portion of Homework #1.

DO NOT FORGET THE INDIVIDUAL PORTION OF THE ASSIGNMENT BELOW.

THE PAIRINGS FOR HOMEWORK #1 ARE AS FOLLOWS:

Last Name, First Name: ECU Email
Last Name, First Name: ECU Email
Beach, Brandon; beachb23@students.ecu.edu Paired With Robb-McCord, Ethan; robbmccordc24@students.ecu.edu
Bennett, Liam; bennettli21@students.ecu.edu Paired With Smith, Bridger; smithbr18@students.ecu.edu
Bennett, Victoria; bennettv19@students.ecu.edu Paired With Spencer, Keislia; spencerke12@students.ecu.edu
Carson, Mac; carsonmc20@students.ecu.edu Paired With Taylor, Trey; taylorr16@students.ecu.edu
Cockman, Emmie; granthame12@students.ecu.edu Paired With Torres Tabora, Aisleth; torrestaboraa22@students.ecu.edu
Cox, Brett; coxbre20@students.ecu.edu Paired With Whitfield, Davis; whitfieldd19@students.ecu.edu
Kelly, Casey; kellyca24@students.ecu.edu Paired With Penny, Joseph; pennyj21@students.ecu.edu

& with
 Kennedy, Robert: kennedyr20@students.ecu.edu



Forecasting Philosophies - Individual Assignment

Clem has been given the following historical data for demand from 2006 to 2018 (refer to Table 1.1). In the past, the company has used a naïve forecasting model.  Her boss wants her to forecast demand for 2019 using a 3-year moving average.  However, she believes a 5-year moving average may be more accurate.  Help Clem develop a naïve, a 3-year moving average, and a 5-year moving average for demand and decide which forecasting model is more accurate (Hint:  employing an error measurement such as MAD would be advisable).

Once you have finished your analysis you are required to write up a one-page executive summary of the work.  I will speak to writing executive summaries more (see link below) but the document should be 1-page, single spaced, at least 10 pt font, and contain an intro statement, a problem statement/purpose, an analysis section, and a conclusion/recommendation section.  You need to include specific numbers in your analysis and your recommendations (e.g., the forecast for 2019 will be XXX or the models are performing well since MAD are X, Y, Z).  More info on writing Executive Summaries can be found by clicking this link Writing Guidelines.

    Table 1.1   
Year Demand Year Demand
2006 30,000 2013 28,000
2007 28,000 2014 29,850
2008 32,000 2015 23,400
2009 23,000 2016 29,750
2010 34,000 2017 27,500
2011 24,000 2018 32,000
2012 31,400 2019 ???