155Two independent methods of forecasting based onjudgment and experience have been prepared eachmonth for the past 10 months. The forecasts and actualsales are as follows:1Month Sales Forecast 1835845212345678910Forecast850820785840815840785800Forecast835830840790815785770835a. Compute the MSE and MAD for each forecast. (Roundyour answers to 2 decimal places.)MSEMAPE F1MAPE F2805785Answer is complete but not entirely correct.MAD2,942.50 xForecast 27658301,125.60 x8158308008067758108158054.2153 X %3.4380 %22.50✔Return to question28.40✔b. Compute MAPE for each forecast. (Round yourintermediate calculations to 5 decimal places and finalanswers to 4 decimal places.)> Answer is complete but not entirely correct.c. Prepare a naive forecast for periods 2 through 11 usingthe given sales data. Compute each of the following; (1)MSE, (2) MAD, (3) tracking signal at month 10, and (4) 2scontrol limits. (Negative values should be indicated by aminus sign. Round your answers to 2 decimal places.)

Here, for each month, I am given actual sales data, forecast 1 data, and forecast 2 data, Now, I…

a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.) 1 2 Answer is complete but not entirely correct. MAD Forecast Forecast MSE 2,942.50 1,125.60 X MAPE F1 MAPE F2 22.50 b. Compute MAPE for each forecast. (Round your intermediate calculations to 5 decimal places and final answers to 4 decimal places.) 28.40 Answer is complete but not entirely correct. 4.2153 % 3.4380 % 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.)

a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.) 1 2 Answer is complete but not entirely correct. MAD Forecast Forecast MSE 2,942.50 1,125.60 X MAPE F1 MAPE F2 22.50 b. Compute MAPE for each forecast. (Round your intermediate calculations to 5 decimal places and final answers to 4 decimal places.) 28.40 Answer is complete but not entirely correct. 4.2153 % 3.4380 % 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.)

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.7: Exponential Smoothing Models

Problem 29P: The file P13_29.xlsx contains monthly time series data for total U.S. retail sales of building...

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