Give typed full explanation not a single word hand written otherwise leave it Consider the following forecast results. Calculate MFE, MAD, and MAPE, using the data for the months January through June. Does the forecast model under-or overforecast?The MFE isThe MAD isMonthJanuaryFebruaryMarchThe forecast modelAprilMayJuneActualDemand(Enter your response rounded to one decimal place and include a minus sign if necessary.)(Enter your response rounded to one decimal place.)The MAPE is%. (Enter your response rounded to one decimal place.)1,0119569991,0631,116971Forecast1,0641,0398921,0281,1431,009

Given: The actual demand and forecast for the month January to June. Formula used: The expression…

Consider the following forecast results. Calculate MFE, MAD, and MAPE, using the data for the months January through June. Does the forecast model under- or overforecast? The MFE is The MAD is The MAPE is Month January February March April May June The forecast model Actual Demand 1,011 956 999 1,063 1,116 971 Forecast 1,064 1,039 892 1,028 1,143 1,009 D (Enter your response rounded to one decimal place and include a minus sign if necessary.) (Enter your response rounded to one decimal place.) %. (Enter your response rounded to one decimal place.)

Consider the following forecast results. Calculate MFE, MAD, and MAPE, using the data for the months January through June. Does the forecast model under- or overforecast? The MFE is The MAD is The MAPE is Month January February March April May June The forecast model Actual Demand 1,011 956 999 1,063 1,116 971 Forecast 1,064 1,039 892 1,028 1,143 1,009 D (Enter your response rounded to one decimal place and include a minus sign if necessary.) (Enter your response rounded to one decimal place.) %. (Enter your response rounded to one decimal place.)

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 27P: The file P13_27.xlsx contains yearly data on the proportion of Americans under the age of 18 living...

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