Problem 3-21 (Algo)Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand andthe two sets of forecasts are as follows:PREDICTED DEMANDDemandF1F2Period1686160275676637075704746967569747267267788074788787680b. Compute the MSE for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round youranswers to 2 decimal places.)MSE F132.63MSE F230.90d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations to 2decimal places and and final answers to 2 decimal places.)MAPE F1%MAPE F2%

we need to find MSE and MAPE MSE = Average(dev^2) = 253/8 = 31.62 MAPE = Average((abs…

Answered: Two different forecasting techniques…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

Month Actual demand Forecasted Demand 1 950 1000 2 1070 1000 3 1100 1000 4 960 1000 5 1090 1000 6 1050 1000 For the dataset above, compute the overall MAPE.
The problem is based on the following data given. Observations of the demand for a certain part stocked at a parts supply depot during the calendar year 2013 were ( as shown ). What would an MA(1) forecasting method mean? Compare the accuracy of MA(1) and MA(4) forecasts for July through December 2013.
1. Estimate the retails sales in the U. S. in 2011. billions of dollars = 2. Use the model to predict the year that corresponds to retails sales of $249 billion =
The following table shows retail sales in drug stores in billions of dollars in the U.S. for years since 1995. Year Retail Sales 0 85.851 3 108.426 6 141.781 9 169.256 12 202.297 15 222.266 Let � be the retails sales in billions of dollars in � years since 1995. A linear model for the data is �=9.44�+84.182.36912158090100110120130140150160170180190200210220A) Use the above scatter plot to decide whether the line of best fit, fits the data well. The function is a good model for the data. The function is not a good model for the data B) To the nearest billion, estimate the retails sales in the U. S. in 2017. billions of dollars.C) Use the equation to find the year in which retails sales will be $231 billion.
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…
A local firm is planning its workforce and production levels over the next year. The firm makes a variety of microprocessors and uses sales dollars as its aggregate production unit. Based on orders received and sales forecasts provided by the marketing department, the estimate of dollar sales for the next year by month is as follows: Month Production Days Predicted Demand(in $10,000) Month Production Days Predicted Demand(in $10,000) January 20 595 July 20 410 February 19 225 August 21 130 March 22 565 September 19 405 April 18 205 October 23 315 May 21 230 November 21 355 June 22 120 December 18 350 Inventory holding costs are based on a 25% annual interest charge. It is anticipated that there will be 675 workers on the payroll at the end of the current year and inventories will amount to $120,000. The firm would like to have at least $100,000 of inventory at the end of December…
An entrepreneur who owns and operates two businesses (A and B) would like to analyze their profitability. They would like your help in the analysis. They give you the annual net profit (in thousands of $) for each business from 2008-2020. Table 1: Annual Net Profits for Businesses A and B Business Year Profit Business Year Profit 2008 -50 2008 -10 2009 57 2009 30 2010 71 2010 27 2011 64 2011 22 2012 60 2012 21 2013 50 2013 20 A 2014 41 2014 24 2015 59 2015 24 2016 71 2016 32 2017 71 2017 36 2018 74 2018 37 019 81 20 40 2020 97 2020 49 a. Suppose you want to graph the distribution of profits. Explain why using only one stem- plot might not be optimal for the analysis. b. Describe the correct stemplot to use. Generate this stemplot. Explain your steps. What can you say about the distribution from this stemplot? c. When are stemplots useful? And why is that? d. Suppose that instead of having 26 observations you have 200 observations. What graph should you generate? e. What other type of…
Develop a three-period moving average forecast for periods 13-15. Period 10 11 12 13 14 Demand 265 359 436 261 462 Calculate the forecasts for periods 13-15 by using a three-period moving average model (enter your responses rounded to the nearest whole number). Period Demand Forecast 10 265 11 359 12 436 13 261

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

The Basic Practice of Statistics

Statistics

ISBN:

9781319042578

Author:

David S. Moore, William I. Notz, Michael A. Fligner

Publisher:

W. H. Freeman

Introduction to the Practice of Statistics

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS