Question: 1. Why forecasting is important in operation management (slide 41/ Connect power point)? 2. What factors we need to consider choosing forecasting techniques (slide 40,

1. Why forecasting is important in operation

1. Why forecasting is important in operation management (slide 41/ Connect power point)? 2. What factors we need to consider choosing forecasting techniques (slide 40, Connect power point)? 3. Please do the calculation for the missing data of the Forecast Evolution Table below (formulas below also:): Month t Actual Demand Forecast Ft Error Absolute et error leti Error squared e2 Absolute percent error [le]/A] *100 A 1 200 225 2 240 220 3 300 285 4 270 290 5 230 250 6 260 240 7 210 250 8 8 275 240 TOTAL MAD= MSE= MAPE=

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