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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

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

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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8. 

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
​a)
MAD= __________ ​(round your response to one decimal​ place).
Expert Solution
Step 1

ABSOLUTE ERROR = |ACTUAL-FORECAST|

MAD = AVERAGE(ABSOLUTE ERROR)

MSE = AVERAGE(ERROR^2) 

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