Question: Your manager has come to you with the following data
Your manager has come to you with the following data, showing actual demand for ﬁve periods and forecast results for two different models. He has asked you to tell him which forecast model is “best” and why. Using MFE, MAD, and MAPE, tell him which model is best and why.
Answer to relevant QuestionsConsider the following forecast results. Calculate MFE, MAD, and MAPE, using the data for the months January through June. Does the forecast model under- or over-forecast?After developing her 2013 forecast, Jamie Favre gets a visit from Cheeznax’s production manager, Mark Mobley. Mark says, “I think the forecast is ﬁne, but I really need estimates of demand broken out by product type. ...Some people have argued that the process of developing a sales and operations plan is as important as the ﬁnal numbers. How could this be?Consider the following information for Covolo Diving Gear:a. Calculate weighted planning values for machine hours and labor hours per gauge set. Interpret these planning values.b. Recalculate the weighted planning values ...Consider the level production plan for Pennington Cabinets shown in Table 10.5. Perform a cash ﬂow analysis for this production plan, using the cash ﬂow analysis in Example 10.8 as a guide. Assume that each cabinet set ...
Post your question