Below are a pharmacy's actual sales and forecasted demand for a certain prescription drug for 5...

 

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Below are a pharmacy's actual sales and forecasted demand for a certain prescription drug for 5 months. How accurate is their forecast? Calculate MAD and MSE and create a control chart. Forecasted demand Months 1 2 3 4 5 Actual sales lat-Ft) 53 FL MAD= MSE (At-Ft) 11 215 235 909 200 305 310 13.25 227.25 n/a 255 203 325 320 Absolute ERROR 20 3 20 10 53 Sq ERROR 400 9 400 100 909 Below are a pharmacy's actual sales and forecasted demand for a certain prescription drug for 5 months. How accurate is their forecast? Calculate MAD and MSE and create a control chart. Forecasted demand Months 1 2 3 4 5 Actual sales lat-Ft) 53 FL MAD= MSE (At-Ft) 11 215 235 909 200 305 310 13.25 227.25 n/a 255 203 325 320 Absolute ERROR 20 3 20 10 53 Sq ERROR 400 9 400 100 909

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Here are the steps to calculate forecast accuracy MAD MSE and create a control chart for t... View the full answer