Question $4$

Problem $515806$:

Do not include anything other than numbers in your responses. For example, do not include comma

or dollar sign in your numbers. As a rule of thumb, keep $2$ decimal places for larger numbers and $3$

decimal places for smaller numbers less than $1.$

Consider the following data. We want to monitor the forecasts.

Calculate the UCL and LCL for the appropriate control chart to control magnitude of errors?

Calculate the cumulative error, MAD, and tracking signals of periods $2$ through $5$ and determine if the

forecasts are biased.

Keep two decimal places in your calculations $.$

Are forecast errors biased? $($Yes$/$No$)$