Question: 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

Two independent methods of forecasting based on

Two independent methods of forecasting based on

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: -5 Month 1 2 3 4 5 6 7 8 9 10 Sales 771 790 794 776 772 770 761 774 792 794 Forecast 1 769 790 798 779 770 773 765 775 791 794 Forecast 2 769 790 797 780 772 775 766 774 789 795 a. Compute a tracking signal for the 10th month for each forecast using the cumulative error for months 1 to 10. Use action limits of + 4. Is there bias present? (Do not round your intermediate calculations. Round your answers to 2 decimal places. Negative amounts should be indicated by a minus sign.) Forecast Tracking Signal Bias Method 1 Method 2 (Cick to select) Present Not present es a. Compute a tracking signal for the 10th month for each forecast using the cumulative error for months 1 to 10. Use action limits of +4. Is there bias present? (Do not round your intermediate calculations. Round your answers to 2 decimal places. Negative amounts should be indicated by a minus sign.) Forecast Tracking Bias Signal Method 1 (Click to select Method 2 (Click to select) Present Not present b. Compute 2s control limits for each forecast. (Do not round your intermediate calculations. Round your answers to 2 decimal places.) Control Limits Forecast Method 1 Method 2

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