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 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 13215 2 years ago 13865 13184 Last year 14941 15288 What was the mean absolute percent error for these forecasts? a. 259587 O b. 0.0416201 O c. 3.95602 O d. 2118

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 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...

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,...

Construct a portfolio containing (long or short) Securities 1, 2, 3 (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) Construct a portfolio containing...

What are intracompany comparisons? What are intercompany comparisons? How do they differ?

CA1.8 (LO 3) (Cost Constraint) A Special Committee on Financial Reporting proposed the following constraints related to financial reporting. 1. Business reporting should exclude information outside...

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...