Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: Period 2 3 Demand 68 75 70 74 69 72 00 78 MAD F1 MAD F2 PREDICTED DEHAND F2 66 FI 66 68 72 71 72 70 71 74 68 70 72 74 76 78 80 Click here for the Excel Data File Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 1 decimal place.) appears to be more accurate : 4

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

please solve all parts within 30 minutes.

DRE
Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two
sets of forecasts are as follows:
Period
2
3
4
5
6
7
8
Demand
68
75
MAD F1
MAD F2
70
74
69
72
80
78
MSE F1
MSE F2
PREDICTED DEHAND
F2
66
68
70
72
F1
66
68
72
71
72
70
71
74
Click here for the Excel Data File
Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 1
decimal place.)
74
76
78
80
appears to be more accurate
b. Compute the MSE for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers
to 2 decimal places.)
4
appears to be more accurate
Transcribed Image Text:DRE Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: Period 2 3 4 5 6 7 8 Demand 68 75 MAD F1 MAD F2 70 74 69 72 80 78 MSE F1 MSE F2 PREDICTED DEHAND F2 66 68 70 72 F1 66 68 72 71 72 70 71 74 Click here for the Excel Data File Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 1 decimal place.) 74 76 78 80 appears to be more accurate b. Compute the MSE for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.) 4 appears to be more accurate
d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations and final
answers to 2 decimal places.)
MAPE F1
MAPE F2
%
%
appears to be more accurate
Transcribed Image Text:d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations and final answers to 2 decimal places.) MAPE F1 MAPE F2 % % appears to be more accurate
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 8 steps with 8 images

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
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 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…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
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
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman