The following table shows the actual sales of a product as well as two forecasts: Actual...
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The following table shows the actual sales of a product as well as two forecasts: Actual sales Forecast 2 656 662 621 618 599 617 585 630 596 Period 2 3 4 5 6 7 8 9 566 548 600 Forecast 1 662 648 624 606 600 576 560 554 546 603 647 611 563 569 617 (a) Calculate the three measures, MAD, MSE, and MAPE, for both forecasts. (b) Based on above data only, determine whether there is obvious bias in any of the forecasts The following table shows the actual sales of a product as well as two forecasts: Actual sales Forecast 2 656 662 621 618 599 617 585 630 596 Period 2 3 4 5 6 7 8 9 566 548 600 Forecast 1 662 648 624 606 600 576 560 554 546 603 647 611 563 569 617 (a) Calculate the three measures, MAD, MSE, and MAPE, for both forecasts. (b) Based on above data only, determine whether there is obvious bias in any of the forecasts
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a MAD MSE and MAPE for Forecast 1 MAD MAD 662656648656618656599656624656617656585656606656603656630656600656647656596656576656611656566656560656563656... View the full answer
Related Book For
Conceptual Physical Science
ISBN: 978-0134060491
6th edition
Authors: Paul G. Hewitt, John A. Suchocki, Leslie A. Hewitt
Posted Date:
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