↑Calculate (a) MAD and (b) MSE for the following forecast versus actual sales figures:ForecastActuala) MAD=b) MSE=(round your response to one decimal place).(round your response to one decimal place).11116105117102 107 113123123

The forecast is a method that is of great importance for the organization as it helps in assessing…

Answered: (a) MAD and (b) MSE for the following…

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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i need this to study stop canceling my questions A check-processing center uses exponential smooth- ing to forecast the number of incoming checks each month. The number of checks received in June was 40 million, while the fore- cast was 42 million. A smoothing constant of .2 is used. a) What is the forecast for July?b) If the center received 45 million checks in July, what would be the forecast for August?c) Why might this be an inappropriate forecasting method for the situation
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(a) MAD and (b) MSE for the following forecast versus actual sales figures: Forecast Actual a) MAD= =(round your response to one decimal place). b) MSE= (round your response to one decimal place). 10 105 111 117 123 102 107 113 123