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c. Prepare a naive forecast for periods 2 through 11 using the given sales data. Compute each of the following; (1) MSE, (2) MAD, (3) tracking signal at month 10, and (4) 2s control limits. (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) Answer is complete but not entirely correct. MSE MAD Tracking signal 72,197.22X 105.50 -1.25

c. Prepare a naive forecast for periods 2 through 11 using the given sales data. Compute each of the following; (1) MSE, (2) MAD, (3) tracking signal at month 10, and (4) 2s control limits. (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) Answer is complete but not entirely correct. MSE MAD Tracking signal 72,197.22X 105.50 -1.25

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.6: Moving Averages Models
Problem 22P: The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six...
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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:
1 Month 1 2 3 4 5 6 7 8 9 10 2 Forecast Forecast Sales 835 845 850 820 785 840 815 840 MAPE F1 MAPE F2 785 800 Forecast 1 835 830 840 790 MSE 815 785 a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.) 770 835 805 785 869.44✔ 1,250.67 MSE MAD Tracking signal Forecast 2 765 830 Answer is complete and correct. 2.7519✔ % 3.4380 % MAD 815 830 22.50 800 806 28.40 775 810 815 805 b. Compute MAPE for each forecast. (Round your intermediate calculations to 5 decimal places and final answers to 4 decimal places.) Answer is complete and correct. c. Prepare a naive forecast for periods 2 through 11 using the given sales data. Compute each of the following; (1) MSE, (2) MAD, (3) tracking signal at month 10, and (4) 2s control limits. (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) > Answer is complete but not entirely correct. 72,197.22 X 105.50 X -1.25✔
Transcribed Image Text:1 Month 1 2 3 4 5 6 7 8 9 10 2 Forecast Forecast Sales 835 845 850 820 785 840 815 840 MAPE F1 MAPE F2 785 800 Forecast 1 835 830 840 790 MSE 815 785 a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.) 770 835 805 785 869.44✔ 1,250.67 MSE MAD Tracking signal Forecast 2 765 830 Answer is complete and correct. 2.7519✔ % 3.4380 % MAD 815 830 22.50 800 806 28.40 775 810 815 805 b. Compute MAPE for each forecast. (Round your intermediate calculations to 5 decimal places and final answers to 4 decimal places.) Answer is complete and correct. c. Prepare a naive forecast for periods 2 through 11 using the given sales data. Compute each of the following; (1) MSE, (2) MAD, (3) tracking signal at month 10, and (4) 2s control limits. (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) > Answer is complete but not entirely correct. 72,197.22 X 105.50 X -1.25✔
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