Please explain the calculation to get get the answers in the column provided?!

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 explain the calculation to get get the answers in the column provided?!
Period
1
2
3
4
Actual Forecast
(A)
(F)
107
110
125
115
118
Forecast Error Calculation
108
121
112
120
(A-F)
Error |Error|
-3
3
109
4
3
5
To keep in mind
MAD = 1 [1/₁1/A₂ F ₂ |
USE = 1/2 2 1 - 1 (A= F) ²
MAPE -
"AFE = +" 10 F₂1 (100)
1A+=F+1
At
-1
-2
-1
Sum
4
3
2
1
13
n = 5
MAD
= 2.6
Error²
9
16
9
4
1
39
n = 5
MSE
= 7.8
[Error/Actual]x100
2.80%
3.20%
2.61%
1.69%
0.93%
11.23%
n = 5
MAPE
= 2.25%
Transcribed Image Text:Period 1 2 3 4 Actual Forecast (A) (F) 107 110 125 115 118 Forecast Error Calculation 108 121 112 120 (A-F) Error |Error| -3 3 109 4 3 5 To keep in mind MAD = 1 [1/₁1/A₂ F ₂ | USE = 1/2 2 1 - 1 (A= F) ² MAPE - "AFE = +" 10 F₂1 (100) 1A+=F+1 At -1 -2 -1 Sum 4 3 2 1 13 n = 5 MAD = 2.6 Error² 9 16 9 4 1 39 n = 5 MSE = 7.8 [Error/Actual]x100 2.80% 3.20% 2.61% 1.69% 0.93% 11.23% n = 5 MAPE = 2.25%
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