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 1022), (3 year ago Quantity sold was 1119), (2 year ago Quantity sold was 1736 ) and the last year Quantity sold was 1926. The previous trend line had predicted 1203 for three years ago, 1257 for two years ago and 1310 for last year. What was the mean squared error (MSE) for these forecasts? a. 393 O b. 205317.67 c. 0.22 O d. 22.360001

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!