Question: A manager has been using a certain technique to forecast demand for gallons of ice cream for the past six periods. Actual and predicted amounts
A manager has been using a certain technique to forecast demand for gallons of ice cream for the past six periods. Actual and predicted amounts are shown below. Compute the MAD, MSE, tracking signal, and control chart (upper and lower limit values) for both forecasts and compare. Would a naive forecast have produced better results? Draw the control chart for the nave forecast.
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