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.) MSE MAD Tracking signal Control limits 0+
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.) MSE MAD Tracking signal Control limits 0+
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.3: Simple Regression Models
Problem 2P: The file P13_02.xlsx contains five years of monthly data on sales (number of units sold) for a...
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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.)
MSE
MAD
Tracking signal
Control limits
0 ±:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffae3e809-41e2-4112-98a3-eba5dfe5a9be%2F1ed1329a-e21c-4ff6-987d-a7c6cc8c191f%2F0ma3dtr_processed.png&w=3840&q=75)
Transcribed Image Text: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.)
MSE
MAD
Tracking signal
Control limits
0 ±:
![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:
Month
1
2
3
4
5
6
7
8
0090
10
Forecast 1
Forecast 2
Sales
835
850
845
825
795
850
815
835
840
830
Forecast 1
820
790
795
815
800
775
785
770
800
795
MAPE F1
MAPE F2
a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.)
MSE
Forecast 2
765
795
830
%
%
815
790
791
815
770
805
810
MAD
b. Compute MAPE for each forecast. (Round your intermediate calculations to 5 decimal places and final answers to 4 decimal
places.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffae3e809-41e2-4112-98a3-eba5dfe5a9be%2F1ed1329a-e21c-4ff6-987d-a7c6cc8c191f%2Fyrrpqx_processed.png&w=3840&q=75)
Transcribed Image Text: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:
Month
1
2
3
4
5
6
7
8
0090
10
Forecast 1
Forecast 2
Sales
835
850
845
825
795
850
815
835
840
830
Forecast 1
820
790
795
815
800
775
785
770
800
795
MAPE F1
MAPE F2
a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.)
MSE
Forecast 2
765
795
830
%
%
815
790
791
815
770
805
810
MAD
b. Compute MAPE for each forecast. (Round your intermediate calculations to 5 decimal places and final answers to 4 decimal
places.)
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the MAD turned out great however the MSE is off
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