Given the following data for demand at the XYZ Company, calculate the monthly forecast for 2003 using a 3-month moving average. Calculate the Forecast, Error, MAD (mean absolute percentage error), Bias and the TS (tracking signal) .

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

Given the following data for demand at the XYZ Company, calculate the monthly forecast for 2003 using a 3-month moving average. Calculate the Forecast, Error, MAD (mean absolute percentage error), Bias and the TS (tracking signal) .

 

 

Period
Demand
Forecast
Error
MAD
Bias
TS
2-Oct 2012
800
2-Nov 2012
1000
2-Dec 2012
950
2-Jan 2013
1100
2-Feb 2013
930
2-Mar 2013
1020
2-Apr 2013
870
Transcribed Image Text:Period Demand Forecast Error MAD Bias TS 2-Oct 2012 800 2-Nov 2012 1000 2-Dec 2012 950 2-Jan 2013 1100 2-Feb 2013 930 2-Mar 2013 1020 2-Apr 2013 870
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman