Question: Given the new data below, calculate the mean absolute percent error (MAPE) associated with this forecasting technique. ( round to a whole percentage (not a

Given the new data below, calculate the mean absolute percent error (MAPE) associated with this forecasting technique. (round to a whole percentage (not a decimal) and answer as a % and don't include the units)

Month	Actual sales	Forecast
Jan	34	22
Feb	32	21

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!

MBA 6300 online Homework Assignment #4 Forecasting Models Instructions: After the student calculates the answers to this homework he/she must submit the answers by placing them in the Assignment # _...

Question 2 - Forecasting (10 points] In a local travel agency, monthly sales of vacation packages are given as in the table below. The company asked you to suggest a forecasting technique that best...

PLEASE ANSWER THE FOLLOWING TWO QUESTIONS. YOU MUST SHOW YOUR COMPLETE CALCULATIONS FOR FULL CREDIT. 1. (SHOW YOUR COMPLETE WORK) Two independent forecasting methods 1 and 2 have been used each week...

4. (SHOW YOUR COMPLETE WORK) The actual demand data over the past six months for a new product are shown helow: a. Plot the monthly demand data using a software OR on a sheet of graph puper. [4...

1) PART A The following table shows quarterly sales (in thousand units) for a product over 5 years. The overall sales average for the entire 5 years is 133 (thousand units). Fill in the missing...

Last question for each please The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven next year. The miles driven...

1. A small company gathered sales data over the last 7 months as follows: Month Sales January 237 February 225 March 227 April 252 May 288 June 288 July 273 August Download CSV Do not round answers....

The management at SRF would like you to develop a sales forecast for the next two years in a format like that shown in the table. To better understand how good your forecast was, consider actual...

1. Given the following actual and forecast values, calculate the mean absolute percent error, MAPE. Do not round results. Period Actual Forecast 1 302 2 320 3 266 4 240 189.60 5 304 390.64 6 246...

6 . Sebastian River Farms ( SRF ) is a wholesale nursery with approximately 3 0 0 acres on Florida s east coast near Vero Beach ( United States ) . The nursery grows over 7 5 different varieties of...

For a science fair competition, a group of high school students build a kicker-machine that can launch a golf ball from the origin with a velocity of 11.2 m/s and a launch angle of 31.5 with respect...

In a charge-free region for which o=0, =E0 Er, and u= Ho, %3D H = 5cos(10t-4y)a; ,A/m %3D Find: (a) Ja and D, (b) E

17. In a group of people surveyed, 23 of them own laptops, 17 of them own desktop computers, and 9 of them own both types of computers. How many people in the group own either laptops or desktop...

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...