Question: QUESTION 10 Consider a seasonality model, such as the one for the Edmonton International Airport that was modelled in the lab, in which average seasonal

QUESTION 10 Consider a seasonality model, such as

QUESTION 10 Consider a seasonality model, such as the one for the Edmonton International Airport that was modelled in the lab, in which average seasonal indexes are computed for each month of the year. Now consider that it is later found that the demand number used for July 2011 was incorrect, and the actual demand value was higher than the number used in the model. If the number used in the model is corrected, what should happen to the updated average seasonal indexes? a. The average seasonal index value for July will increase while the average seasonal index values for all other months will decrease. ob. The average seasonal index values for all months will increase. c. The average seasonal index values for all months will decrease. d. The average seasonal index value for July will decrease while the average seasonal index values for all other months will not change. e. The average seasonal index value for July will decrease while the average seasonal index values for all other months will increase. Of. The average seasonal index value for July will increase while the average seasonal index values for all other months will not change. QUESTION 11 Four amateur forecasters have each made a forecast for demand for the past 60 weeks (see attached Excel file). Calculate the average amount of error (i.e. the Mean Absolute Deviation) for each of the forecasters over the entire 60 weeks, and rank them from best to worst (i.e. the best forecaster, according to MAD, will be ranked "1", second best will be ranked "2", etc.). Tim Janice Michael Rhonda A B D E TI G H 1 2 3 FORECASTS (Ft) Janice Michael Rhonda 4 Tim DATA Week (t) Demand (D) 1 883 2 893 5 6 894 894 880 900 870 885 893 901 903 885 7 891 884 891 906 887 3 902 8 4 887 892 895 9 5 902 895 871 857 10 6 883 885 888 893 882 865 848 11 7 847 849 875 883 12 00 867 841 861 865 57 53 924 938 935 943 935 58 54 913 942 59 55 919 923 60 56 897 897 916 905 900 936 932 907 895 904 882 874 61 57 914 895 894 934 935 920 904 900 899 894 62 58 886 877 887 884 63 59 916 64 60 863 878 878 883 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 DATA +

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