answer a,b, and c 4.23Sales of quilt covers at Bud Banis's department storein Carbondale over the past year are shown below. Managementprepared a forecast using a combination of exponential smooth-ing and its collective judgment for the 4 months (March, April,May, and June):MONTHUNIT SALESMANAGEMENT'S FORECASTJuly100AugustSeptember9396October110November124December119January92February83March101120April96114May89110June108108a) Compute MAD and MAPE for management's technique.b) Do management's results outperform (i.e., have smaller MADand MAPE than) a naive forecast?c) Which forecast do you recommend, based on lower forecasterror?

MAD stands for mean absolute deviations MSE stands for mean squared error.

a) Compute MAD and MAPE for management's technique. b) Do management's results outperform (i.e., have smaller MAD and MAPE than) a naive forecast? c) Which forecast do you recommend, based on lower forecast error?

a) Compute MAD and MAPE for management's technique. b) Do management's results outperform (i.e., have smaller MAD and MAPE than) a naive forecast? c) Which forecast do you recommend, based on lower forecast error?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

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Question

answer a,b, and c

4.23
Sales of quilt covers at Bud Banis's department store
in Carbondale over the past year are shown below. Management
prepared a forecast using a combination of exponential smooth-
ing and its collective judgment for the 4 months (March, April,
May, and June):
MONTH
UNIT SALES
MANAGEMENT'S FORECAST
July
100
August
September
93
96
October
110
November
124
December
119
January
92
February
83
March
101
120
April
96
114
May
89
110
June
108
108
a) Compute MAD and MAPE for management's technique.
b) Do management's results outperform (i.e., have smaller MAD
and MAPE than) a naive forecast?
c) Which forecast do you recommend, based on lower forecast
error?

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