1. Using the six steps in decision making, model a problem that…

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Question 1. Using the six steps in decision making, model a problem that… 1. Using the six steps in decision making, model a problem that requires the use of decision making related to the application of the use of a sales forecast for a supermarket.2. Make the forecast with the data in the Table presented below. Data is in thousands of dollars.Meses2014201520162017Julio21652046.62075.32032.3Agosto2213.52109.22097.72107.4Septiembre2103.11956.720212012.8Octubre2133.62016.72082.82029.1Noviembre19661849.51906.91826Diciembre1937.51818.31950.31795Enero1856.81791.91817.81762.3Febrero1758.416291738.31629.4Marzo1864.31720.21993.41814.5Abril1889.71814.31895.81793.3Mayo2032.81897.42009.11890.7Junio2014.51961.11990.31938.3The methods that will be used are the following:Trend plot for all 4 years (scatter plot), weighted moving average (for each separate year)Exponential smoothing with fitting trend (year 2017 only, alpha and beta is 0.5)Trend regression with graph (year 2017 only)Multiplicative decomposition method (year 2017 only; 4 series)Step DescriptionDefinition of the problem Maintain the level of sales and avoid losses after external events such as earthquakes, the Covid-19 pandemic, population decline in the area and inflation.Development of a ModelData collectionDevelopment of a solutionSolution testAnalysis of the resultsImplementationNote: Next to this table, attach the results of the Excel Qm or QM for Windows programs that served as a support tool in decision-making for modeling a real scenario.     Math Statistics and Probability BADM 3330 Share QuestionEmailCopy link Comments (0)