Question: 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

An operation analyst is forecasting this year's

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 10576), (3 year ago Quantity sold was 12311 ), (2 year ago Quantity sold was 17246 ) and the last year Quantity sold was 19193. The previous trend line had predicted 12250 for three years ago, 13000 for two years ago and 13750 for last year. What was the mean absolute percent error (MAPE) for these forecasts? a. 3250 O b. 3250 O C. 17.82 O d. 0.18

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data YEAR Four years ago Three years ago Two years ago l QUANTITY SOLD 1 0 ,...

fs An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: 3 years ago 1530? 14893 years ago 16554 16123 Last year 17550 1?892...

An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: The previous trend line has predicted 1 8 , 5 0 0 for two years ago,...

An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: What is the forecast for this year using the last-value forecasting...

A project has four major activities. Activity A precedes activity B, activity C precedes activity D. 3-point estimates for activities are A(8.5, 17, 25.5 ), B( 3.5, 7, 10.5 ), C( 2, 2, 2 ), D( 4, 4,...

Question 37 An operation analyst is forecasting this year's demand for one of his company's Not yet products based on the following historical data: (4 year ago Quantity sold was 10929), answered (3...

An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: YEAR QUANTITY SOLD Four years ago 1 0 , 0 0 0 Three years ago 1 2 , 0...

Question 1 The following data are quartely sales of a product for the last year : 5372, 7144, 6037, and 9112. Estimated quarter relatives are Q1 = 0.79, Q2 = 1.04, Q3 = 0.87, and Q4 = 1.3....

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 1043), (3 year ago Quantity sold was...

A block A of mass m, rests on a horizontal table. A light string connected to it passes over a frictionless pulley at the edge of table and from its other end another block B of mass m, is suspended....

If it is known that V(t) = 12 cos(20t) is the voltage source given to an ideal transformer, determine, (a) the turn ratio (n) and impedance (L) to the load, (b) the complex power provided by the...

Question Content Area Discounting models for making capital decisions ignore the time value of money. True False

atch the compensation objectives with their meanings. Efficiency Efficiency drop zone empty. Fairness Fairness drop zone empty. Compliance Compliance drop zone empty. Improving performance and...