Sales of quilt covers at Bud Banis's discount department store in Carbondale over the past year...

 

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Sales of quilt covers at Bud Banis's discount department store in Carbondale over the past year are shown below. Management prepared a forecast using a combination of exponential smoothing and its collective judgment for the 4 months (March, April, May, and June) Month Unit Sales Management's Forecast Jul 98 Month Unit Sales Naive Forecast Aug Sep Oct Nov Dec Jan 95 94 112 124 119 90 inf a) MAD for the forecast developed by the management's technique sales (round your response to two decimal places) MAPE for the forecast developed by the management's technique -% (round your response to two decimal places) b) Using the Naive Method, the forecast for period March through June is (round your response to two decimal places) Jul 98 R Oct Aug Sep 95 94 112 Dec Nov 124 119 8 Feb Mar Apr May Jun 83 102 96 88 108 122 115 112 112 Jan Fob 90 83 MAD for the naive forecast = sales (round your response to two decimal places) MAPE for the forecast developed by the naive approach =% (round your response to two decimal places) c) When comparing MAD for the two approaches, the better forecast is achieved using the When comparing MAPE for the two approaches, the better forecast is achieved using the Mar 102 Apr May 96 88 D Jun 100 Sales of quilt covers at Bud Banis's discount department store in Carbondale over the past year are shown below. Management prepared a forecast using a combination of exponential smoothing and its collective judgment for the 4 months (March, April, May, and June) Month Unit Sales Management's Forecast Jul 98 Month Unit Sales Naive Forecast Aug Sep Oct Nov Dec Jan 95 94 112 124 119 90 inf a) MAD for the forecast developed by the management's technique sales (round your response to two decimal places) MAPE for the forecast developed by the management's technique -% (round your response to two decimal places) b) Using the Naive Method, the forecast for period March through June is (round your response to two decimal places) Jul 98 R Oct Aug Sep 95 94 112 Dec Nov 124 119 8 Feb Mar Apr May Jun 83 102 96 88 108 122 115 112 112 Jan Fob 90 83 MAD for the naive forecast = sales (round your response to two decimal places) MAPE for the forecast developed by the naive approach =% (round your response to two decimal places) c) When comparing MAD for the two approaches, the better forecast is achieved using the When comparing MAPE for the two approaches, the better forecast is achieved using the Mar 102 Apr May 96 88 D Jun 100

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Ans a MAD average of absolute error MAPE is the average percentage error The calculations are as bel... View the full answer