8 Favors Distribution Company purchases smallimported trinkets in bulk, packages them, andsells them to retail stores. The managers areconducting an inventory control study of all theiritems. The following data are for one such item,which is not seasonal.16789 10 11 122 3 4 5Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecSales 51 55 54 57 50 68 66 59 67 69 75 73d. What is the MAD for this forecast? 2.81e. What is the Correlation Coefficient?

Absolute Error = Actual - ForecastMAD = ∑Absolute ErrornWhere n = No. of periods

Answered: Favors Distribution Company purchases…

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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