A company has used three different methods to forecast sales for the past five months. Use MAD
Question:
(a) Which forecasting method performed best? Do MAD and MSE give the same results?
(b) Which of these is actually the naïvemethod?
Transcribed Image Text:
Method Method Method Period Actual 10 10 10 10 12 13 14 12 12 12 12
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (10 reviews)
a Period Actual Forecast A Absolute Squared Error Error 1 1...View the full answer
Answered By
Hemstone Ouma
"Hi there! My name is Hemstone Ouma and I am a computer scientist with a strong background in hands-on experience skills such as programming, sofware development and testing to name just a few. I have a degree in computer science from Dedan Kimathi University of Technology and a Masters degree from the University of Nairobi in Business Education. I have spent the past 6 years working in the field, gaining a wide range of skills and knowledge. In my current role as a programmer, I have had the opportunity to work on a variety of projects and have developed a strong understanding of several programming languages such as python, java, C++, C# and Javascript.
In addition to my professional experience, I also have a passion for teaching and helping others to learn. I have experience as a tutor, both in a formal setting and on a one-on-one basis, and have a proven track record of helping students to succeed. I believe that with the right guidance and support, anyone can learn and excel in computer science.
I am excited to bring my skills and experience to a new opportunity and am always looking for ways to make an impact and grow as a professional. I am confident that my hands-on experience as a computer scientist and tutor make me a strong candidate for any role and I am excited to see where my career will take me next.
5.00+
8+ Reviews
22+ Question Solved
Related Book For
Question Posted:
Students also viewed these Management Leadership questions
-
For the past five years, Velocity Manufacturing Company has had a policy of producing to meet customer demand. As a result, finished goods inventory is minimal, and for the most part, units produced...
-
Sales for the past 12 months at Dalworth Company are given here. a. Use a three-month moving average to forecast the sales for the months April through December. b. Use exponential smoothing with a =...
-
Sales for the past 12 months at Bell, Inc. are given below. a. Use a three-month moving average to forecast the sales for the months May through December. b. Use a four-month moving average to...
-
1. Read the following article about the new circle with disney product and answer the following questions. in doing so, take on the role as the marketing manager responsible for the product and...
-
A student runs an experiment six times in an attempt to obtain an equation relating two physical quantities x and y. For x = 1,2,4, 6, 8, 10 units, the experiments result in corresponding y values of...
-
Multiple-Choice Questions 1. To be successful in a suit under the Securities Act of 1933, the plaintiff must prove: Important mistake In the registration statementPlaintiff lost money (a)NoYes...
-
Describe the various roles of advanced practice nurses.
-
Refer to the information in Problem 17-38. Suppose that Publishers, Inc., uses the FIFO method instead of the weighted-average method in all of its departments. The only changes to Problem 17-38...
-
1. Do you believe that Porshe's management is appropriately concerned with shareholder wealth? Does Porsche's ownership structure work to the benefit or detriment of public shareholders?
-
Mr B aged 52 years, has earned rupees 75,00,000 out of his business. His ex-wife gifted him a car worth rupees 8 lakh. He spent a total of rupees 20 lakh during a family trip. He won a lottery of 16...
-
Given the following data, use exponential smoothing with α = 0.2 and α = 0.5 to generate forecasts for periods 2 through 6. Use MAD and MSE to decide which of the two...
-
A producer of picture frames uses a tracking signal with limits of ±4 to decide whether a forecast should be reviewed. Given historical information for the past four weeks, compute the...
-
Show that the formula \(d \mathbf{A}=d \boldsymbol{\theta} \times \mathbf{A}\) for the change in an inertial frame of a vector \(\mathbf{A}\) that is stationary in a rotating frame is still valid...
-
If you have fixed costs of $60,000 and it costs you $10 per unit to produce each unit. At what dollar amount do you break even if you can sell each unit for $15?
-
Trustor Arthur makes his son Harold the trustee of a piece of rental property near the outskirts of town for the benefit of grandson Ronald. Who holds title to the property?
-
Why does the transaction did not appear on the REA diagram?
-
What is one way in which effective budgeting directly supports strategy implementation?
-
If the cost of equity capital is 15% p.a., the company tax rate is 30%, the cost of debt is 12% p.a. and gamma = 0.60, what is the cost of capital rounded to one decimal place if the funding is 50%...
-
When does liability for LDs stop?
-
What are current assets and current liabilities? How are they different from non-current assets and non-current liabilities?
-
Give two examples of quantitative non-financial performance measures.
-
Using the Hours Required to Accomplish Tasks chart, determine the optimal schedule for assigning each of the six nurses to the six patients in the ward.
-
Other than financial considerations, describe what other factors the various departments at VMH should consider when determining the suitability of an ERP system.
-
Explain if ERP is appropriate for a service organization such as CII.
-
Determine the retained earnings balance. Determine the total assets. Determine the total dyabilities Adjusted Trial Balance Stockton Company December 31 Cash Accounts Receivable 7.530 2,100 Prepaid...
-
Superior Micro Products uses the weighted - average method in its process costing system. Data for the Assembly Department for May appear below: Materials Labor Overhead Work in process, May 1 $ 1 9...
-
Vista Distributors purchases inventory in crates of merchandise. Assume the company began July with an inventory of 30 units that cost $300 each. During the month, the company purchased and sold...
Study smarter with the SolutionInn App