Question: 1) When evaluating a forecasting model, if mean error is close to zero, Mean Absolute Deviation (MAD) must also be close to zero. 2)The responsiveness
1) When evaluating a forecasting model, if mean error is close to zero, Mean Absolute Deviation (MAD) must also be close to zero. 2)The responsiveness of a moving average forecast for demand data may be increased or decreased by changing n, the number of periods used in the calculation of the moving average. 3) The sum of seasonal indices should equal the number of seasons (except slight for difference due to rounding). 4) The purpose of pyramid forecasting is to manage day-to-day variations in demand 5)If the demand for an item is dependent, then the timing and quantities must be forecast. 6) Moving average techniques are useful for
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