Homework Help is Here – Start Your Trial Now!
Business
Operations Management
Given the following data for demand at the XYZ Company, calculate the monthly forecast for 2003 using a 3-month moving average. Calculate the Forecast, Error, MAD (mean absolute percentage error), Bias and the TS (tracking signal) .    Period Demand Forecast Error MAD Bias TS 2-Oct 2012 800 　 　 　 　 　 2-Nov 2012 1000 　 　 　 　 　 2-Dec 2012 950 　 　 　 　 　 2-Jan 2013 1100           2-Feb 2013 930           2-Mar 2013 1020           2-Apr 2013 870

Given the following data for demand at the XYZ Company, calculate the monthly forecast for 2003 using a 3-month moving average. Calculate the Forecast, Error, MAD (mean absolute percentage error), Bias and the TS (tracking signal) .    Period Demand Forecast Error MAD Bias TS 2-Oct 2012 800 　 　 　 　 　 2-Nov 2012 1000 　 　 　 　 　 2-Dec 2012 950 　 　 　 　 　 2-Jan 2013 1100           2-Feb 2013 930           2-Mar 2013 1020           2-Apr 2013 870

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...
See similar textbooks
icon
Related questions
Question

Given the following data for demand at the XYZ Company, calculate the monthly forecast for 2003 using a 3-month moving average. Calculate the Forecast, Error, MAD (mean absolute percentage error), Bias and the TS (tracking signal) .

  

Period

Demand

Forecast

Error

MAD

Bias

TS

2-Oct 2012

800

　

　

　

　

　

2-Nov 2012

1000

　

　

　

　

　

2-Dec 2012

950

　

　

　

　

　

2-Jan 2013

1100

          

2-Feb 2013

930

          

2-Mar 2013

1020

          

2-Apr 2013

870

          
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Business in Action
Business in Action
Operations Management
ISBN:
9780135198100
Author:
BOVEE
Publisher:
PEARSON CO
Purchasing and Supply Chain Management
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.
SEE MORE TEXTBOOKS