Given a 3-quarter period of actual and forecast demand as shown in the table. The company ABCsets a forecast error with a limits of +/- 4, what can you conclude about the forecasted demand?QuarterActual DemandForecast Demand1st1781752nd2252203rd233235O Not acceptable. higher with the set limitO Not Acceptable, lower with the set limítO Accurate, forecast demand is equal to set limitO Acceptable, within set limitNext

A forecasting method is a managerial tool which help to predict the unknown future based on…

Answered: Given a 3-quarter period of actual and…

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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Please do not give solution in image formate thanku.

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Given a 3-quarter period of actual and forecast demand as shown in the table. The company ABC sets a forecast error with a limits of +/- 4, what can you conclude about the forecasted demand?