Question: 5. An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: (4 year ago Quantity
5. An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: (4 year ago Quantity sold was 1027), (3 year ago Quantity sold was 1235 ), (2 year ago Quantity sold was 1742 ) and the last year Quantity sold was 1949 . The previous trend line had predicted 1211 for three years ago, 1272 for two years ago and 1333 for last year. What was the mean squared error (MSE) for these forecasts?
a.
0.2
b.
200310.67
c.
370
d.
20.18
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
