Question: Need help (a) through (c) Harien Industries has a simple forecasting model Take the actual demand for the same month last year and divide that


Need help (a) through (c)
Harien Industries has a simple forecasting model Take the actual demand for the same month last year and divide that by the number of fractional weeks in that month. This gives the average weekly demand for that month. This weekly average is used as the weekly forecast for the same month this year. This technique was used to forecast eight weeks for this year, which are shown below along with the actual demand that occurred WEEK 1 2 3 4 5 CON UN FORECAST DEMAND 140 140 140 140 140 150 150 150 ACTUAL DEMAND 137 133 150 160 180 170 185 205 a. Compute the MAD of forecast errors. (Round your answers to 2 decimal places.) MAD Week 1 2 3 4 3.00 7.00 5.00 17.00 35.00 15.00 39.00 57 00 5 6 7 8 b. Using the RSFE, compute the tracking signal. (Negative values should be indicated by a minus sign. Round your answer to 2 decimal places.) a. Compute the MAD of forecast errors. (Round your answers to 2 decimal places.) MAD Week 1 2 3 4 3.00 7.00 5,00 17 00 35.00 15.00 39.00 57.00 5 6 7 8 b. Using the RSFE, compute the tracking signal (Negative values should be indicated by a minus sign. Round your answer to 2 decima Week 1 Tracking Signal 2 3 4 5 6 7 8 c. Based on your answers to parts a and b, comment on Harlen's method of forecasting The forecast should be considered poor. The forecast should be considered goodStep by Step Solution
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