Given the following data of actual sales and forecast for the five months: Month 1, Month 2, Month 3, Month 4, Month 5, and Month 6: Month 1 2 5.83 3 4 5 6 Actual Sales 50 40 45 55 65 50 Forecast 55 50 (a) Calculate the Mean Absolute Percent Error (MAPE). (b) Calculate the Mean Square Error (MSE). 75 40 50 65 40 (c) Calculate the Mean Absolute Deviation (MAD). 12.92

Given the following data of actual sales and forecast for the five months: Month 1, Month 2, Month 3, Month 4, Month 5, and Month 6: Month 1 2 5.83 3 4 5 6 Actual Sales 50 40 45 55 65 50 Forecast 55 50 (a) Calculate the Mean Absolute Percent Error (MAPE). (b) Calculate the Mean Square Error (MSE). 75 40 50 65 40 (c) Calculate the Mean Absolute Deviation (MAD). 12.92

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.6: Moving Averages Models

Problem 22P: The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six...

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