Bill's Bookstore is tracking its monthly demand for textbooks and has seen the following demand pattern. Historical forecasts are also included. MONTH FORECASTED DEMAND ACTUAL DEMAND April 150 165 May 220 210 June 215 200 July 245 250 August 205 225 Assess Bill's performance for the forecast in the table above using the Mean Absolute Deviation (MAD). Only use the data for the months of April through August to calculate the MAD.

Bill's Bookstore is tracking its monthly demand for textbooks and has seen the following demand pattern. Historical forecasts are also included. MONTH FORECASTED DEMAND ACTUAL DEMAND April 150 165 May 220 210 June 215 200 July 245 250 August 205 225 Assess Bill's performance for the forecast in the table above using the Mean Absolute Deviation (MAD). Only use the data for the months of April through August to calculate the MAD.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 5E: A firm experienced the demand shown in the following table. *Unkown future value to be forecast Fill...

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Question

Bill's Bookstore is tracking its monthly demand for textbooks and has seen the following
demand pattern. Historical forecasts are also included.
MONTH FORECASTED DEMAND
ACTUAL DEMAND
April
150
165
May
220
210
June
215
200
July
245
250
August
205
225
Assess Bill's performance for the forecast in the table above using the Mean Absolute
Deviation (MAD). Only use the data for the months of April through August to calculate the
MAD.

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