Abs Error Sq Error Abs Error Month Demand Forecast 1 Forecast 2 F1 F2 F1 F2 F1 F2 1 770 771 769 1 1 1 1 0 12987 0 12987013 2 789 785 787 4 2 16 4 0 506971 0 253485425 3 794 790 792 4 2 16 4 0 503778 0 251889169 4 780 784 789 4 9 16 81 0 512821 1 153846154 5 768 770 774 2 6 4 36 0 260417 0 78125 6 772 768 770 4 2 16 4 0 518135 0 259067358 7 760 761 759 1 1 1 1 0 131579 0 131578947 8 775 771 775 4 0 16 0 0 516129 0 9 786 784 788 2 2 4 4 0 254453 0 254452926 10 790 788 788 2 2 4 4 0 253165 0 253164557 a) Calculate the MAD, MSE, and MAPE (as a percentage between 0 and 100) for each forecast Which forecast is best by each criteria Why b) Calculate the 2s control limits for each forecast, and indicate whether all forecasts from each process are in control Forecast 1 Forecast 2 MAD MSE MAPE 2s limit All in control

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Question: Abs Error Sq Error % Abs Error Month Demand Forecast 1 Forecast 2 F1 F2 F1 F2 F1 F2 1 770 771 769 1 1

Abs Error Sq Error % Abs Error Month Demand

				Abs Error		Sq Error		% Abs Error
Month	Demand	Forecast 1	Forecast 2	F1	F2	F1	F2	F1	F2
1	770	771	769	1	1	1	1	0.12987	0.12987013
2	789	785	787	4	2	16	4	0.506971	0.253485425
3	794	790	792	4	2	16	4	0.503778	0.251889169
4	780	784	789	4	9	16	81	0.512821	1.153846154
5	768	770	774	2	6	4	36	0.260417	0.78125
6	772	768	770	4	2	16	4	0.518135	0.259067358
7	760	761	759	1	1	1	1	0.131579	0.131578947
8	775	771	775	4	0	16	0	0.516129	0
9	786	784	788	2	2	4	4	0.254453	0.254452926
10	790	788	788	2	2	4	4	0.253165	0.253164557

Abs Error Sq Error % Abs Error Month Demand

a) Calculate the MAD, MSE, and MAPE (as a percentage between 0 and 100) for each forecast. Which forecast is best by each criteria? Why? b) Calculate the 2s control limits for each forecast, and indicate whether all forecasts from each process are in control. Forecast 1 Forecast 2 MAD MSE MAPE 2s limit All in control

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