Question: Problem 6: The data below shows the actual demand and forecast for a company. Calculate the Cumulative Forecast Error and Tracking Signal values for this

Problem 6: The data below shows the actual demand and forecast for a company. Calculate the Cumulative Forecast Error and Tracking Signal values for this data. A) Does the forecast show bias? If so what type of bias? Explain your position (i.e. why do you think there is or is not bias). B) Calculate the Tracking signal values for the data. Do you recommend that they continue to use this forecasting method? Explain your position.

Actual

Day Demand Forecast

Monday 975 1075

Tuesday 1225 1300

Wednesday 1145 1188

Thursday 1750 1407

Friday 2160 1700

Monday 2000 2091

Tuesday 750 1589

Wednesday 895 876

Thursday 1500 892

Friday 1600 1409

Monday 1300 1440

Tuesday 850 1087

Wednesday 850 716

Thursday 980 830

Friday 1500 957

Monday 750 1418

Tuesday 650 850

Wednesday 985 680

Thursday 1200 940

Friday 1460 1161

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!

i need help with this and please show work. thank you. Problem 6: The table below shows the Actual demand and forecast for 12 periods of data. Calculate the Cumulative Forecast Error and Tracking...

please show work Problem 6: The table below shows the Actual demand and forecast for 12 periods of data. Calculate the Cumulative Forecast Error and Tracking Signal values for this data, A) Does the...

Problem 6: The table below shows the Actual demand and forecast for 12 periods of data. Calculate the Cumulative Forecast Error and Tracking Signal values for this data. A) Does the forecast show...

4 The the Problem 6: Given the forecast demand and actual demand for 10-foot fishing boats, compute the tracking signal and MAD. Year Forecast Actual Demand Demand 1 78 71 2 75 80 3 83 101 84 84 4 5...

Homework: Homework 1: Forecasting Score: 0.47 of 1 pt 1 4 of 8 (8 complete) Problem 4.2a The following table shows the actual demand observed over the last 11 years: : 1 2 3 4 6 57 7 8 9 10 11 Year...

Incorrect Question 34 Original Score: 5 / 5 pts Regraded Score: 5 / 5 pts This question has been regraded. Max's Floral Shoppes is a three store retailer of fresh "Hawaiian" inspired floral...

I only posted these questions as one because they are about one problem. And even if I post them separately I would still have to post them together to get an answer. So please answer in all of them....

please show work The actual demand and forecast demand for the PV company over a two-quarter period is showing in the table below. What is the Tracking Signal at Quarter 2? (round off the answer to...

Please provide step by step solutions to the answers of questions. TQ Question 37 3/3 pts Consider the following actual demand and forecast data for Reynolds Minerals a regional distributor of...

Question 36 0/ 3pts Consider the following data regarding the Fiske Spinner, a rotary device used in the production of the ABS Brake Assembly. Product Cost $34.75 Holding Cost 10% of Product Cost...

Watch the documentary titled "The Seven Five" on Netflix and discuss the ethical issues versus the illegal issues.

Prompt the user for a string that contains two strings separated by a comma. Examples of strings that can be accepted: Jill, Allen Jill, Allen Jill, Allen Ex: Enter input string: Jill, Allen

What is an IPO? When a company first sells shares of stock to the public When the government creates shares on a Stock Exchange A new Apple product When a company gets angry at its shareholders and...

What is an example of constructive feedback? provide reference