A time series with forecast values and error terms is presented in the following table. The mean absolute deviation (MAD) for this forecast is Answer. (Calculate to two decimal places. X.XX)Month Actual Forecast ErrorJuly 5August 11 5 6September 13 6.8 6.2October 6 8.66 -2.66November 5 7.862 -2.862

Following table shows the calcuations: Month Actual, Yt Forecast, Ft Error |Yt-Ft|/Yt July 5…

Answered: A time series with forecast values and…

Practical Management Science

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ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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A time series with forecast values and error terms is presented in the following table. The mean absolute deviation (MAD) for this forecast is Answer. (Calculate to two decimal places. X.XX)

Month Actual Forecast Error

July 5

August 11 5 6

September 13 6.8 6.2

October 6 8.66 -2.66

November 5 7.862 -2.862

Expert Solution

Step 1

Following table shows the calcuations:

Month	Actual, Yt	Forecast, Ft	Error	\|Yt-Ft\|/Yt
July	5
Aug	11	5	6	0.545454545
Sept	13	6.8	6.2	0.476923077
Oct	6	8.66	-2.66	0.443333333
Nov	5	7.862	-2.86	0.5724
Total				2.038110956

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