Question: Month Demand Forecast 1 Forecast 2 1 7 7 0 7 7 1 7 6 9 2 7 8 9 7 8 5 7 8
Month Demand Forecast Forecast
a Calculate the MSE, MAD, and MAPE for each forecast. Round the MAPE answers to decimal places and other answers to decimal place.
MAD
MSE
MAPE
b Do all three measures of forecast errors provide the same conclusion ie are they consistent in this case?
b Do you expect consistent results in every case?
will have a lower MAD and MAPE than
c Calculate S control limits for each forecast and determine if each forecasting process is in control. Round the final answers to decimal places.
Fpm
Fpm
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
