A time series with forecast values and error terms is presented in the following table. The mean absolute deviation (MAD) for this forecast is Answer. (Calculate to two decimal places. X.XX)Month Actual Forecast ErrorJuly 5August 11 5 6September 13 6.8 6.2October 6 8.66 -2.66November 5 7.862 -2.862

Following table shows the calcuations: Month Actual, Yt Forecast, Ft Error |Yt-Ft|/Yt July 5…

Answered: A time series with forecast values and…

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 28P: The file P13_28.xlsx contains monthly retail sales of U.S. liquor stores. a. Is seasonality present...

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A time series with forecast values and error terms is presented in the following table. The mean absolute deviation (MAD) for this forecast is Answer. (Calculate to two decimal places. X.XX)

Month Actual Forecast Error

July 5

August 11 5 6

September 13 6.8 6.2

October 6 8.66 -2.66

November 5 7.862 -2.862

Expert Solution

Step 1

Following table shows the calcuations:

Month	Actual, Yt	Forecast, Ft	Error	\|Yt-Ft\|/Yt
July	5
Aug	11	5	6	0.545454545
Sept	13	6.8	6.2	0.476923077
Oct	6	8.66	-2.66	0.443333333
Nov	5	7.862	-2.86	0.5724
Total				2.038110956

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