You have been using a very simple, niiave forecasting technique You are using the previous month's data for this month's estimate February's estimate was January's actual The data is in the table below Month Actual Forecast Jan 3722 3934 Feb 4991 3722 Mar 4204 4991 Apr 4695 4204 May 4499 4695 Jun 5167 4499 Jul 5133 5167 Aug 5105 5133 Sep 5155 5105 Oct 5159 5155 Nov 4728 5159 Dec 4133 4728 a) What is the Mean Error (ME) b) What is the Mean Squared Error (MSE) c) What is the Mean Absolute Deviation (MAD) d) What is the Mean Absolute Percent Error (MAPE) e) What is the tracking signal

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Question: You have been using a very simple, niiave forecasting technique. You are using the previous month's data for this month's estimate. February's estimate was January's

You have been using a very simple, niiave forecasting technique. You are using the previous month's data for this month's estimate. February's estimate was January's actual. The data is in the table below.

Month	Actual	Forecast
Jan	3722	3934
Feb	4991	3722
Mar	4204	4991
Apr	4695	4204
May	4499	4695
Jun	5167	4499
Jul	5133	5167
Aug	5105	5133
Sep	5155	5105
Oct	5159	5155
Nov	4728	5159
Dec	4133	4728

a) What is the Mean Error (ME)?

b) What is the Mean Squared Error (MSE)?

c) What is the Mean Absolute Deviation (MAD)?

d) What is the Mean Absolute Percent Error (MAPE)?

e) What is the tracking signal?

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