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c. Prepare a naive forecast for periods 2 through 11 using the given sales data. Compute each of the following: (1) MSE, (2) MAD, (3) tracking signal at month 10, and (4) 2s control limits. How do the naive results compare with the other two forecasts? Month 234566499 10 * Sales 770 789 794 780 768 772 760 775 786 790 Forecast 1 771 785 790 784 770 768 761 771 784 788 Forecast 2 769 787 792 798 774 770 759 775 788 788

c. Prepare a naive forecast for periods 2 through 11 using the given sales data. Compute each of the following: (1) MSE, (2) MAD, (3) tracking signal at month 10, and (4) 2s control limits. How do the naive results compare with the other two forecasts? Month 234566499 10 * Sales 770 789 794 780 768 772 760 775 786 790 Forecast 1 771 785 790 784 770 768 761 771 784 788 Forecast 2 769 787 792 798 774 770 759 775 788 788

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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c. Prepare a naive forecast for periods 2 through 11 using the given sales data. Compute each of the following: (1) MSE, (2) MAD, (3) tracking signal at month 10, and (4) 2s control limits. How do the naive results compare with the other two forecasts? Month 1 2345CT&So 10 * Sales 770 789 794 780 768 772 760 775 786 790 Forecast 1 771 785 790 784 770 768 761 771 784 788 Forecast 2 769 787 792 798 774 770 759 775 788 788
Transcribed Image Text:c. Prepare a naive forecast for periods 2 through 11 using the given sales data. Compute each of the following: (1) MSE, (2) MAD, (3) tracking signal at month 10, and (4) 2s control limits. How do the naive results compare with the other two forecasts? Month 1 2345CT&So 10 * Sales 770 789 794 780 768 772 760 775 786 790 Forecast 1 771 785 790 784 770 768 761 771 784 788 Forecast 2 769 787 792 798 774 770 759 775 788 788
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