Calculate (a) MAD and (b) MSE for the following forecast versus actual sales figures: Forecast 99 109 119 129 Actual 94 105 123 129
Calculate (a) MAD and (b) MSE for the following forecast versus actual sales figures: Forecast 99 109 119 129 Actual 94 105 123 129
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Question
Calculate (a) MAD and (b) MSE for the following forecast versus actual sales figures:
Forecast
|
99
|
109
|
119
|
129
|
Actual
|
94
|
105
|
123
|
129
|
a)
MAD=nothing
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