Problem #2 - - The table below shows the same actual sales of a Product X sold by Company Y from January to December of 2019, as presented in Problem #1. Month Actual Sales 2-Month Moving Absolute Value Average Forecast - Sales (# of Product X) (# of Product X) of Errors Jan/19 1,860 Feb/19 2,033 Mar/19 Apr/19 May/19 Jun/19 Jul/19 Aug/19 Sep/19 Oct/19 Nov/19 Dec/19 Jan/20 3,556 4,211 6,250 7,990 10,250 9,850 9,980 9,990 7,895 5,353 Calculate the 2-month Moving Average Forecast for sales from March/2019 to a) January/2019 and enter them in the table above. Calculate the Absolute Value of Error for every forecasted month, from March/2019 to b) January/2020. Enter those values on the table above. c) Mean Absolute Percent Error (MAPE) for the 2-month Moving Average Forecast you created for Product X from March/2019 to January/2020. - Calculate the Mean Absolute Deviation (MAD), the Mean Squared Error (MSE) and the - Create a table that shows the MAD, MSE and MAPE values you obtained for the Naïve d) Forecast and for the 2-month Moving Average Forecast. Which method would you recommend and why?
Problem #2 - - The table below shows the same actual sales of a Product X sold by Company Y from January to December of 2019, as presented in Problem #1. Month Actual Sales 2-Month Moving Absolute Value Average Forecast - Sales (# of Product X) (# of Product X) of Errors Jan/19 1,860 Feb/19 2,033 Mar/19 Apr/19 May/19 Jun/19 Jul/19 Aug/19 Sep/19 Oct/19 Nov/19 Dec/19 Jan/20 3,556 4,211 6,250 7,990 10,250 9,850 9,980 9,990 7,895 5,353 Calculate the 2-month Moving Average Forecast for sales from March/2019 to a) January/2019 and enter them in the table above. Calculate the Absolute Value of Error for every forecasted month, from March/2019 to b) January/2020. Enter those values on the table above. c) Mean Absolute Percent Error (MAPE) for the 2-month Moving Average Forecast you created for Product X from March/2019 to January/2020. - Calculate the Mean Absolute Deviation (MAD), the Mean Squared Error (MSE) and the - Create a table that shows the MAD, MSE and MAPE values you obtained for the Naïve d) Forecast and for the 2-month Moving Average Forecast. Which method would you recommend and why?
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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I just need the first 3 please (:
Transcribed Image Text:**Problem #2**
The table below shows the actual sales of a Product X sold by Company Y from January to December of 2019, as presented in Problem #1.
| Month | Actual Sales (# of Product X) | 2-Month Moving Average Forecast - Sales (# of Product X) | Absolute Value of Errors |
|--------|-------------------------------|----------------------------------------------------------|--------------------------|
| Jan/19 | 1,860 | | |
| Feb/19 | 2,033 | | |
| Mar/19 | 3,556 | | |
| Apr/19 | 4,211 | | |
| May/19 | 6,250 | | |
| Jun/19 | 7,990 | | |
| Jul/19 | 10,250 | | |
| Aug/19 | 9,850 | | |
| Sep/19 | 9,980 | | |
| Oct/19 | 9,990 | | |
| Nov/19 | 7,895 | | |
| Dec/19 | 5,353 | | |
| Jan/20 | | | |
**Tasks:**
a) Calculate the 2-month Moving Average Forecast for sales from March 2019 to January 2020 and enter them in the table above.
b) Calculate the Absolute Value of Error for every forecasted month, from March 2019 to January 2020. Enter those values on the table above.
c) Calculate the Mean Absolute Deviation (MAD), the Mean Squared Error (MSE), and the Mean Absolute Percent Error (MAPE) for the 2-month Moving Average Forecast you created for Product X from March 2019 to January 2020.
d) Create a table that shows the MAD, MSE, and MAPE values you obtained for the Naïve Forecast and for the 2-month Moving Average Forecast. Which method would you recommend and why?
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