Question: Problem 3 - 2 2 ( Algo ) Two independent methods of forecasting based on judgment and experience have been prepared each month for the

Problem 3-22(Algo)
Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months.
The forecasts and actual sales are as follows:
a. Compute the MSE and MAD for each forecast.
Note: Round your answers to 2 decimal places.
b. Compute MAPE for each forecast.
Note: Round your intermediate calculations to 5 decimal places and final answers to 4 decimal places.
MAPE F2
c. Prepare a naive forecast for periods 2 through 11 using the given sales data. Compute each of the following;
MSE,
MAD,
Tracking signal at month 10, and
2s control limits.
Note: Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.
 Problem 3-22(Algo) Two independent methods of forecasting based on judgment and

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!