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Unit 5 [GB513: Business Analytics] Unit 5: Assignment This Assignment requires you to use Excel. Make sure to use the Unit 5 Assignment template...
Hello I need help with questions #2 and #3. Please find attached the document which has the questions posted in the correct format.
This Assignment requires you to use Excel
Question 2
The U.S. Census Bureau publishes data on factory orders for all manufacturing, durable goods, andnondurable goods industries. Shown here are factory orders in the United States over a 13-yearperiod ($ billion).First, use the data to develop forecasts for years 6 through 13 using a 5-year moving average.Then, use the data to develop forecasts for years 6 through 13 using a 5-year weighted movingaverage. Weight the most recent year by 6, the previous year by 4, the year before that by 2, and theother years by 1.
Answer the following questions:
a) What is the forecast for year 13 based on the 5-year moving average?
b) What is the forecast for year 13 based on the 5-year weighted moving average?
c) What is the MAD for the moving average forecast?
d) What is the MAD for the weighted moving average forecast?
e) Which forecasting model is better?
Year Factory orders1 2,512.702 2,739.203 2,874.904 2,934.105 2,865.706 2,978.507 3,092.408 3,111.109 3,222.2010 3,341.0011 3,689.0012 3,654.0013
Question 3
The “Economic Report to the President of the United States” included data on the amounts of manufacturers’ new and unfilled orders in millions of dollars. Shown here are the figures for neworders over a 21-year period.Use the charting tool in Excel to develop a regression model to fit the trend effects for the data. Use a linear model and then try a polynomial (order 2) model. Make sure the charts show the line formulaand the r-squared value. Include both charts in your report. Then, answer the following question:
● How well does either model fit the data?
Which model should be used for forecasting?
Explain using the relevant metrics.
Year Total Number of New Orders1 55,0222 55,9213 64,1824 76,0035 87,3276 85,1397 99,5138 115,1099 116,25110 121,54711 123,32112 141,20013 162,14014 168,42015 171,25016 176,355Unit 5 [GB513: Business Analytics]17 195,20418 209,38919 237,02520 272,54421 293,475
