Two different techniques and independent methods of forecasting, Forecast 1 (F1) andForecast 2 (F2) based on judgement and experience have been used to forecast demandfor cases of bottled water. Actual demand and the two sets of forecasts are as shown inTable 1.Table 1: Predicted demand F1 and F2.Predicted DemandMonthDemandF1F216866662756868707270474717269727472707678071788787480Compute MAD, MSE, MAPE for each set of forecasts. Give your results, which forecastappears to be more accurate? What observations can you make based on your findings?Should management have any concerns?

Answered: Image /qna-images/answer/94e99358-87bd-4140-a0ed-59168903a609.jpg

Compute MAD, MSE, MAPE for each set of forecasts. Give your results, which forecast appears to be more accurate? What observations can you make based on your findings? Should management have any concerns?

Compute MAD, MSE, MAPE for each set of forecasts. Give your results, which forecast appears to be more accurate? What observations can you make based on your findings? Should management have any concerns?

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

The “weakest” data type in terms of limited mathematical operations is: A. Ratio-scaled dataB. Interval dataC. ordinal dataD. nominal data
Consider the variables in our data set, what type of graph would you use to present the following variables, why? Explain. Height Hometown Eye color Pets (has a pet or no pet)
Consider the following scenario and answer the questions below: The ornithologist decided to investigate the effect of temperature on the migration of North American birds. Develop a hypothesis in the appropriate format. Identify the independent variable. Identify the dependent variable. Plan an investigation (what would she do to collect data?). Did she engage in basic science or applied science? Explain. Did she engage in inductive or deductive reasoning? Explain
B) has more than one answer .. Thank you
For the following line graph, State at least one type of conclusion that could be made from the data provided for the KPI. Suggest one other data source that would provide more information to make data-driven decisions. Explain what information that source would supply. (I used the clustered bar chart) Examples: 1) The completion KPI measures the percentage of South Texas College students who finished their degree or certificate program within six years. From the line graph, it can be seen that the completion rates have remained nearly constant through the years. Data from the THECB was used in this case. 2) Information about the percentage of students who receive credit for attempted courses is available on the South Texas College KPI webpage. According to the data, over the past five years, an increasing number of students have been receiving credit for courses they have attempted. Data on the percentage of students who complete courses, the percentage of students who withdraw…
State if these variables would be expected to have a positive, negative, or no association. A. Number of schools and population size. o Positive Negative No association B. Income and number of health conditions. Positive o Negative No association C. Time spent meditating and stress level. Positive o Negative No association D. Number of pets and amount of money spent on printer ink. Positive Negative o No association E. Life expectancy and death rate. Positive Negative o No association
Determine whether the underlined value is a parameter or statistics : "In 2017 national survey on teenager pregnancies, 10% of respondents aged 14 to 17 reported that they have a child before the age of 16 yrs."
list and describe the four scales of measurement. please provide an example for each one. which measures of central tendency apply to each scale of measurement?
1. Interpret the following graph. The variables of interest are narcissism (on a 1-5 scale), and random assignment to read a code of ethics or inoculation condition. The dependent variable is how ethical someone was in the past week, averaged into a 1-5 scale. Honest over the past week 5 4.5 4 3.5 Low Narcissism High Narcissism Code of Ethics Inoculation
Some research situations are summarized below. For each situation, identify all variables.Then, for each variable, note the level of measurement AND whether it is an independent or dependent variable. a.Ahealth researcher is interested in studying patient compliance (whether or not patients take the medicine their doctor prescribes). She surveys 800 diabetic patients, and finds compliance to be linked to patient age, education, gender, and socioeconomic status. b. A market researcher is hired by Target to see how customers buying habits have changed before and after COVID. The researcher studies how much each customer spent (in $s), how frequently they visited the website each month, how frequently they visited the store each month. They report that, since March, customers are spending less, visiting the website more frequently, and shopping in person less frequently.
Use the given info and answer subquestion 10.b only