Complete the Mean Absolute Deviation for this forecast. B) Complete an additional forecast for periods 4-12 using a weighted moving average of your choice. Change the title to describe your method. C) Calculate the MAD for your forecast. D) In the text box below put your comment comparing the accuracy of your forecast versus the one given in A. Was your method more accurate? Why or why not? Use whole numbers for all forecasts. Use ONE decimal place for the MAD calculations.

Q: 4, The accompanying dataset provides the closing prices for four stocks and the stock exchange over…

A: Date A B C D Stock Exchange 9/3/2010 127.07 18.54 20.84 15.44 10,536.56 9/7/2010 124.84 18.21…

Q: A quantitative forecasting class assumes that sales (or other items to be forecast) follow a…

A: As per Bartleby guidelines, we can only solve one question at a time...Kindly upload the other…

Q: Month Actual Demand 1 62 2 65 3 67 4 68 5 71 73 7 76 8. 78 9. 78 10 80 11 84 12 85

A: Given information  Month  Actual Demand  1 62 2 65 3 67 4 68 5 71 6 73 7 76 8 78…

Q: The following table contains the demand from the last 10 months: ACTUAL DEMAND 31 33 34 42 45 44 42…

A: An extension of the fundamental exponential smoothing approach that takes data trends into account…

Q: An analyst must decide between two different forecasting techniques for weekly sales of roller…

A: Here, for each period, I have been given the units sold data, This is actual data, I would use two…

Q: The following tabulations are actual sales of units for six months and a starting forecast in…

A: Forecasting plays an essential role for marketing and sales departments to create successful…

Q: At the Rhorer Car Dealership, two salespersons deployed different forecast techniques. The…

A: Absolute Error = Sales- ForecastMAD = ∑Absolute ErrornWhere n = No. of periods

Q: Identify the major differences between qualitative and quantitative forecasting.

A: Forecasting can be defined as the technique which predicts the future information based on…

Q: An operation specialist used two forecast methods to forecast demand for a certain word processing…

A: Forecast for A Month Sales(S) Forecast A(F) error(S-F) |error| January 60       February 25…

Q: 2) Develop forecasts for FY2023 using the two forecasting methods currently employed by Throx. a)…

A: Weighted Moving Average: Here different weights can be assigned to different periods and then a…

Q: A) What makes a forecast optimal?

A: A) Practically all administrative choices depend on Forecasting. Each choice becomes functional…

Q: 1. Discuss the differences between Qualitative and Quantitative forecasting models. How do…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Problem 6-05 Consider the following time series data. Week Value (1) 18 € a. Choose the correct time…

A: WeekValue118213316411517614

Q: The following represents the actual demand and two different sets of forecasts using different…

A: Forecasting is the process of estimating the future demand using the previous years' information and…

Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.