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1. The department manager using a combination of methods has forecast sales of toasters at a local department store. Calculate the MAD for the manager's forecast. Compare the manager's forecast against a naive forecast. Which is better? Manager's Forecast Month Unit Sales January February 52 61 March 73 April Мay 79 66 June 51 47 50 July August September 44 55 30 52 Octobor 55 12

1. The department manager using a combination of methods has forecast sales of toasters at a local department store. Calculate the MAD for the manager's forecast. Compare the manager's forecast against a naive forecast. Which is better? Manager's Forecast Month Unit Sales January February 52 61 March 73 April Мay 79 66 June 51 47 50 July August September 44 55 30 52 Octobor 55 12

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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1:46 口 Forecasting Assignment 1. The department manager using a combination of methods has forecast sales of toasters at a local department store. Calculate the MAD for the manager's forecast. Compare the manager's forecast against a naive forecast. Which is better? Manager's Forecast Month Unit Sales January February 52 61 March 73 April Мay 79 66 June 51 July August September 47 50 44 55 30 52 October 55 42 November 74 60 December 125 75 2. The last four weekly values of sales were 80, 100, 105, and 90 units. The last four forecasts (for the same four weeks) were 60, 80, 95, and 75 units. Calculate MAD, MSE, and MAPE for these four weeks. Sales Forecast Error Error squared Pct. error 80 60 20 400 .25 100 80 20 400 .20 105 95 10 100 .095 90 75 15 225 .167 AA A online.saskpolytech.ca
Transcribed Image Text:1:46 口 Forecasting Assignment 1. The department manager using a combination of methods has forecast sales of toasters at a local department store. Calculate the MAD for the manager's forecast. Compare the manager's forecast against a naive forecast. Which is better? Manager's Forecast Month Unit Sales January February 52 61 March 73 April Мay 79 66 June 51 July August September 47 50 44 55 30 52 October 55 42 November 74 60 December 125 75 2. The last four weekly values of sales were 80, 100, 105, and 90 units. The last four forecasts (for the same four weeks) were 60, 80, 95, and 75 units. Calculate MAD, MSE, and MAPE for these four weeks. Sales Forecast Error Error squared Pct. error 80 60 20 400 .25 100 80 20 400 .20 105 95 10 100 .095 90 75 15 225 .167 AA A online.saskpolytech.ca
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