Table 1. The manager of Carpet City outlet store needs to be able to forecast accurately demand for Soft Shang carpet. Demand for the past 20 weeks appears in table 1 below.weekDemandForecastErrorABS. DevSquared ErrorAPE120 228 322 418 522 622 722 826 923 1023 1123 1227 1325 1422 1523 1614 1714 1815 1911 2016 21 22 23 24 Table 1.Create a five-week moving average and compute the followings:a). The mean absolute deviation (MAD)_____________________________b.)The mean squared error (MSE)__________________________________c). The mean absolute percentage error (MAPE)_______________________

Given information: Given data represents the demand for soft Shang carpet for the weeks 1 through…

Answered: The manager of Carpet City outlet store…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.2: Representing Data

Problem 22PFA

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Table 1. The manager of Carpet City outlet store needs to be able to forecast accurately demand for Soft Shang carpet. Demand for the past 20 weeks appears in table 1 below.

week	Demand	Forecast	Error	ABS. Dev	Squared Error	APE
1	20
2	28
3	22
4	18
5	22
6	22
7	22
8	26
9	23
10	23
11	23
12	27
13	25
14	22
15	23
16	14
17	14
18	15
19	11
20	16
21
22
23
24

Table 1.

Create a five-week moving average and compute the followings:

a). The mean absolute deviation (MAD)_____________________________

b.)The mean squared error (MSE)__________________________________

c). The mean absolute percentage error (MAPE)_______________________

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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