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Consider the following forecast results. Calculate MFE, MAD, and MAPE, using the data for the months January through June. Does the forecast model under- or overforecast? The MFE is The MAD is The MAPE is Month January February March April May June The forecast model Actual Demand 1,011 956 999 1,063 1,116 971 Forecast 1,064 1,039 892 1,028 1,143 1,009 D (Enter your response rounded to one decimal place and include a minus sign if necessary.) (Enter your response rounded to one decimal place.) %. (Enter your response rounded to one decimal place.)

Consider the following forecast results. Calculate MFE, MAD, and MAPE, using the data for the months January through June. Does the forecast model under- or overforecast? The MFE is The MAD is The MAPE is Month January February March April May June The forecast model Actual Demand 1,011 956 999 1,063 1,116 971 Forecast 1,064 1,039 892 1,028 1,143 1,009 D (Enter your response rounded to one decimal place and include a minus sign if necessary.) (Enter your response rounded to one decimal place.) %. (Enter your response rounded to one decimal place.)

Practical Management Science
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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Consider the following forecast results. Calculate MFE, MAD, and MAPE, using the data for the months January through June. Does the forecast model under- or overforecast? The MFE is The MAD is Month January February March The forecast model April May June Actual Demand (Enter your response rounded to one decimal place and include a minus sign if necessary.) (Enter your response rounded to one decimal place.) The MAPE is%. (Enter your response rounded to one decimal place.) 1,011 956 999 1,063 1,116 971 Forecast 1,064 1,039 892 1,028 1,143 1,009
Transcribed Image Text:Consider the following forecast results. Calculate MFE, MAD, and MAPE, using the data for the months January through June. Does the forecast model under- or overforecast? The MFE is The MAD is Month January February March The forecast model April May June Actual Demand (Enter your response rounded to one decimal place and include a minus sign if necessary.) (Enter your response rounded to one decimal place.) The MAPE is%. (Enter your response rounded to one decimal place.) 1,011 956 999 1,063 1,116 971 Forecast 1,064 1,039 892 1,028 1,143 1,009
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