Complete the Mean Absolute Deviation for this forecast. B) Complete an additional forecast for periods 4-12 using a weighted moving average of your choice. Change the title to describe your method. C) Calculate the MAD for your forecast. D) In the text box below put your comment comparing the accuracy of your forecast versus the one given in A. Was your method more accurate? Why or why not? Use whole numbers for all forecasts. Use ONE decimal place for the MAD calculations.
Complete the Mean Absolute Deviation for this forecast. B) Complete an additional forecast for periods 4-12 using a weighted moving average of your choice. Change the title to describe your method. C) Calculate the MAD for your forecast. D) In the text box below put your comment comparing the accuracy of your forecast versus the one given in A. Was your method more accurate? Why or why not? Use whole numbers for all forecasts. Use ONE decimal place for the MAD calculations.
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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Below is the actual demand for electrical boxes for Abco Electric for the last nine periods along with a
Period | Demand | Naïve Method | Error (e) | MAD | Your Title here | Your MAD |
1 | 855 | Abs e | Abs e | |||
2 | 910 | |||||
3 | 930 | |||||
4 | 890 | 930 | ||||
5 | 935 | 890 | ||||
6 | 980 | 935 | ||||
7 | 1020 | 980 | ||||
8 | 960 | 1020 | ||||
9 | 905 | 960 | ||||
10 | 895 | 905 | ||||
11 | 955 | 895 | ||||
12 | 820 | 955 | ||||
MAD |
D. Your comment on Forecast Accuracy:
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