1. A time series analysis for sales of chicken based food product
- Author
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Ozlem Gurunlu Alma, Muhammad Ammar Shafi, Suhartono Suhartono, Diyana Izyan Amir Hamzah, Norziha Che Him, and Mohd Saifullah Rusiman
- Subjects
R software ,Future study ,Mean absolute percentage error ,Autoregressive model ,Mean squared error ,Exponential smoothing ,Statistics ,Product (category theory) ,Time series ,Mathematics - Abstract
This study provides a time series analysis and interpretation of the output for forecast sales of chicken based food product of weekly sales data. These data were collected directly from the outlet shop of one factory in Malacca started from January 2015 to December 2016. Methods of forecasting include autoregressive (AR) method and simple exponential smoothing (SES) method. The accuracy for both methods will be compared using mean squared error (MSE), mean absolute percentage error (MAPE) and mean absolute deviation (MAD). There will be 1 period ahead of predictions for AR method and 1 period ahead for SES method. This analysis found that AR method with AR (1) model is more accurate than SES method and can be used for the future prediction of chicken based food product of weekly sales data. Recommendations for future study is trying out other method to analyse this sales of chicken based food product and using R software to analyse the dataset.
- Published
- 2021
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