Question: Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 1 0 months. The forecasts and actual
Two independent methods of forecasting based on judgment and experience have been prepared each month for the past months. The forecasts and actual sales are as follows:
MonthSalesForecast Forecast
Compute a tracking signal for the th month for each forecast using the cumulative error for months to Use action limits of Is there bias present?
Note: Do not round your intermediate calculations. Round your answers to decimal places. Negative amounts should be indicated by a minus sign.
Compute s control limits for each forecast.
Note: Do not round your intermediate calculations. Round your answers to decimal places.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
