Question: 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 Forecast 4

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: Year Quantity Sold Forecast 4 years ago 12835 12464 3 years ago 13625 13307 2 years ago 14673 14278 Last year 15885 16465 What was the mean absolute percent error for these forecasts? a. 0.0291385 b. 2.89194 CC. 143890 Cd. 1664

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 Quantity Sold Forecast 4 years ago 12594 11647 3 years ago 13358...

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 Forecast 4 years ago 11556 11144 3 years ago 12166...

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...

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...

An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: Picture What is this year's forecast using the least squares trend...

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

An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: Picture What is this year's forecast using the naive approach?

1A project has four major activities. Activity A precedes activity B, activity C precedes activity D. 3-point estimates for activities are A(10, 20, 30 ), B( 5, 10, 15 ), C( 3, 3, 3 ), D( 5, 5, 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 1092). (3 year ago Quantity sold was...

Sarah and John have been working together at a marketing agency for over a year. Sarah recently received a promotion to a senior role, which includes supervising John's work. John, who has been with...

On a warm summer day, a large mass of air (atmospheric pressure 1.01 X 105 Pa) is heated by the ground to a temperature of 26.0oC and then begins to rise through the cooler surrounding air. (This can...

As a provider of funds to a corporation, owning which of the following corporate securities will give you the most control righteMultiple ChoiceShort - term bank loanLong - term bondPreferred stock

Read the articles on journaling and review the template provided. Identify what approach, to journaling, in the articles you found useful and why. Post to the discussion forum that you have reviewed...