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 2-Month Moving Average Forecast-Sales (# of Product X) Actual Sales Absolute Value (# of Product X) of Errors 1,860 2,033 3,556 4,211 6,250 7,990 Jan/19 Feb/19 Mar/19 Apr/19 May/19 Jun/19 Jul/19 Aug/19 Sep/19 Oct/19 Nov/19 Dec/19 Jan/20 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. 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) 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

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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.
Actual Sales
(# of Product X)
Month
2-Month Moving
Absolute Value
Average Forecast - Sales
(# of Product X)
of Errors
Jan/19
1,860
2,033
Feb/19
Mar/19
3,556
Apr/19
May/19
4,211
6,250
Jun/19
7,990
Jul/19
Aug/19
10,250
9,850
Sep/19
Oct/19
Nov/19
Dec/19
Jan/20
9,980
9,990
7,895
5,353
a)
January/2019 and enter them in the table above.
Calculate the 2-month Moving Average Forecast for sales from March/2019 to
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)
- 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?
Transcribed Image Text: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. Actual Sales (# of Product X) Month 2-Month Moving Absolute Value Average Forecast - Sales (# of Product X) of Errors Jan/19 1,860 2,033 Feb/19 Mar/19 3,556 Apr/19 May/19 4,211 6,250 Jun/19 7,990 Jul/19 Aug/19 10,250 9,850 Sep/19 Oct/19 Nov/19 Dec/19 Jan/20 9,980 9,990 7,895 5,353 a) January/2019 and enter them in the table above. Calculate the 2-month Moving Average Forecast for sales from March/2019 to 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) - 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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