In this problem, you are to test the validity of your forecasting model. Here are the forecasts for a model you have been using and the actual demands that occurred:WEEKFORECASTACTUAL180090028501,00039501,050495090051,00090069751,100Use the method stated in the text to compute the MAD and tracking signal for each week.Note: Negative values should be indicated by a minus sign. Round your "Tracking Signal" to 1 decimal place and all other answers to the nearest whole number. Decide whether the forecasting model you have been using is giving reasonable results.multiple choiceThe forecasting model is unacceptable.The forecasting model is acceptable.

In this problem, we are asked to assess the forecasting model used considering the values of Mean…

Answered: In this problem, you are to test the…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

In this problem, you are to test the validity of your forecasting model. Here are the forecasts for a model you have been using and the actual demands that occurred:

WEEK	FORECAST	ACTUAL
1	800	900
2	850	1,000
3	950	1,050
4	950	900
5	1,000	900
6	975	1,100

Use the method stated in the text to compute the MAD and tracking signal for each week.

Note: Negative values should be indicated by a minus sign. Round your "Tracking Signal" to 1 decimal place and all other answers to the nearest whole number.
Decide whether the forecasting model you have been using is giving reasonable results.

multiple choice
- The forecasting model is unacceptable.
- The forecasting model is acceptable.