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Calculate (a) MAD and (b) MSE for the following forecast versus actual sales figures: Forecast 100 110 120 130 Actual 95 108 123 130 Part 2

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter6: Target Markets: Segmentation And Evaluation

Section: Chapter Questions

Problem 17DRQ: Under what conditions might a firm use multiple forecasting methods?

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Part 2

MAD= __________ (round your response to one decimal place).

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

Expert Solution

Step 1

ABSOLUTE ERROR = |ACTUAL-FORECAST|

MAD = AVERAGE(ABSOLUTE ERROR)

MSE = AVERAGE(ERROR^2)

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< Calculate (a) MAD and (b) MSE for the following forecast versus actual sales figures: a) MAD= b) MSE= (round your response to one decimal place) (round your response to one decimal place). Forecast Actual 93 101 109 117 89 103 105 117
Hi, could you help solve 4.2 a b c & d. Thanks
↑ Calculate (a) MAD and (b) MSE for the following forecast versus actual sales figures: Forecast Actual a) MAD= b) MSE= (round your response to one decimal place). (round your response to one decimal place). 111 16 105 117 102 107 113 123 123
Calculate (a) MAD and (b) MSE for the following forecast versus actual sales figures: Forecast 100 110 120 130 Actual 95 108 123 130 a) MAD =| (round your response to one decimal place).
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