James and Maddie work for Statesboro Toolworks. Their boss Jenny tells them that she will promote the person who has the best possible forecast for the firm's DGS-S electric tool. Jenny emailed them the demand data from 10 days worth of sales and then asked each to create a forecast for the next 10 days. The table below shows (1) Actual Demand data (2nd Column), James forecast (3rd column), and Maddie's forecast (4th column). Calculate which of the two has the more accurate forecast. Who gets the promotion? The combatant's forecasts and the actual egg production are shown in the table. Which forecaster was more accurate and should be hired as a result of his performance on this trial? Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7 Day 8 Day 9 Day 10 Actual 102 106 115 118 142 154 166 181 198 206 Final solution: The person who gets the promotion will be: What is Maddie's MAPE? Forecast (James) 102 105 113 124 136 148 160 174 190 202 What is James' MAD and CFE? Forecast (Maddie) 107 113 109 119 130 142 154 167 182 195

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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James and Maddie work for Statesboro Toolworks. Their boss Jenny tells them that she will promote the person who has the best possible forecast for the firm's DG5-S electric tool. Jenny emailed them the demand
data from 10 days worth of sales and then asked each to create a forecast for the next 10 days. The table below shows (1) Actual Demand data (2nd Column), James forecast (3rd column), and Maddie's forecast (4th
column). Calculate which of the two has the more accurate forecast. Who gets the promotion? The combatant's forecasts and the actual egg production are shown in the table. Which forecaster was more accurate and
should be hired as a result of his performance on this trial?
Day 1
Day 2
Day 3
Day 4
Day 5
Day 6
Day 7
Day 8
Day 9
Day 10
Forecast Forecast
(James) (Maddie)
102
102
107
106 105
113
115 113
109
118
124
119
142
136
130
154 148
142
166 160
154
181 174
167
198
190
182
206 202
195
Actual
Final solution:
The person who gets the promotion will be:
What is Maddie's MAPE?
What is James' MAD and CFE?
Transcribed Image Text:James and Maddie work for Statesboro Toolworks. Their boss Jenny tells them that she will promote the person who has the best possible forecast for the firm's DG5-S electric tool. Jenny emailed them the demand data from 10 days worth of sales and then asked each to create a forecast for the next 10 days. The table below shows (1) Actual Demand data (2nd Column), James forecast (3rd column), and Maddie's forecast (4th column). Calculate which of the two has the more accurate forecast. Who gets the promotion? The combatant's forecasts and the actual egg production are shown in the table. Which forecaster was more accurate and should be hired as a result of his performance on this trial? Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7 Day 8 Day 9 Day 10 Forecast Forecast (James) (Maddie) 102 102 107 106 105 113 115 113 109 118 124 119 142 136 130 154 148 142 166 160 154 181 174 167 198 190 182 206 202 195 Actual Final solution: The person who gets the promotion will be: What is Maddie's MAPE? What is James' MAD and CFE?
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