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 judgment and experience have been prepared each month for the past 10 months. The forecasts and actual sales are as follows: a. [6marks] Compute the MSE, MAD, and MAPE for each forecast. Does either forecast seem superior? b. [6marks] Compute a tracking signal for months 5 through 10 using the initial and updated SMADs, with =0.2. If limits of 4 are used, what can you conclude? c. [3marks] Compute 2s control limits for each forecast. What can you conclude? 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: a. [6marks] Compute the MSE, MAD, and MAPE for each forecast. Does either forecast seem superior? b. [6marks] Compute a tracking signal for months 5 through 10 using the initial and updated SMADs, with =0.2. If limits of 4 are used, what can you conclude? c. [3marks] Compute 2s control limits for each forecast. What can you conclude

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