you have just been appointed the store manager at the harris-lion grocery store. you are trying to develop a forecasting method to forecast the demand for lay-frito brand of potato chips. you have the following historical demand data.
month 2017 actual demand
january 613
february 984
march 1218
april 812
may 1000
june 1430
july 807
august 994
september 940
october 1392
november 1481
december 750
assume there is some seasonality in your demand. i. determine the seasonal index for each month using year 2017 demand data. ii. prepare exponential smoothing with seasonality forecasts for the year 2017. for this part of the assignment, all you have to do after you calculate the seasonal indices is create the seasonal forecast by multiplying the forecast prepared for each month in question 2 by the appropriate seasonal index for that month.
see q2 for reference: using simple exponential smoothing, develop the "best" forecasting method you can use to forecast the demand for the potato chips for 2017. you should provide all the documentation and justification for your model. assume the forecast made for january 2017 was 580. provide all the documentation and justification for your answer