n 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 АCTUAL 780 890 2. 840 990 940 1,040 4 940 890 5 990 890 6 965 1,060 a. Use the method stated in the text to compute the MAD and tracking signal for each week. (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.) Running Sum of Forecast Errors Absolute Deviation Sum of Absolute Deviation Mean Absolute Deviation Tracking Signal Week Forecast Actual Deviation 780 840 1 890 2 990 940 1,040 4. 940 890 990 890 965 1,060 o. Decide whether the forecasting model you have been using is giving reasonable results. The forecasting model is acceptable The forecasting model is unacceptable LO

n 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 АCTUAL 780 890 2. 840 990 940 1,040 4 940 890 5 990 890 6 965 1,060 a. Use the method stated in the text to compute the MAD and tracking signal for each week. (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.) Running Sum of Forecast Errors Absolute Deviation Sum of Absolute Deviation Mean Absolute Deviation Tracking Signal Week Forecast Actual Deviation 780 840 1 890 2 990 940 1,040 4. 940 890 990 890 965 1,060 o. Decide whether the forecasting model you have been using is giving reasonable results. The forecasting model is acceptable The forecasting model is unacceptable LO

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Concept explainers

Correlation

Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

Linear Correlation

A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.

Regression Analysis

Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.

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
780
890
2
840
990
3
940
1,040
4
940
890
990
890
6.
965
1,060
a. Use the method stated in the text to compute the MAD and tracking signal for each week. (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.)
Running Sum of
Forecast Errors
Sum of
Absolute
Deviation
Mean
Absolute
Deviation
Tracking
Signal
Absolute
Week
Forecast
Actual
Deviation
Deviation
1
780
890
840
990
940
1,040
4
940
890
990
890
965
1,060
b. Decide whether the forecasting model you have been using is giving reasonable results.
O The forecasting model is acceptable
O The forecasting model is unacceptable

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