Two servers in a restaurant predict how many guests will come for dinner in the next four
Question:
Two servers in a restaurant predict how many guests will come for dinner in the next four days. The first server predicts the number of guests to be 23 for day 1, 35 for day 2, 30 for day 3, and 28 for day 4. The second server predicts 26, 27, 28, and 29 for the four respective days. The actual attendance turns out to be 30, 22, 31, and 25. Who has the bigger forecast bias? What are the MSE and the MAE for the two servers?
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The calculations in the table below show that Server 1 has an average forecast error of ...View the full answer
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Related Book For 
Operations Management
ISBN: 9781260547610
2nd International Edition
Authors: Gerard Cachon, Christian Terwiesch
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