Harlen Industries Limited has a simple forecasting model whose forecast demand has been plotted against actual demand for an 8 months duration. The firm uses an average weekly demand which is shown below:WEEKFORECAST DEMANDACTUAL DEMAND 1140135 2150160 3165155 4170175 5155180 6160150 7170145 8135140 Compute the Mean Absolute Deviation (MAD) of the Harlen industries limited? Calculate the Mean Square Error (MSE) for Harlen industries Limited? Calculate the Cumulative Forecast Error (CFE) of Harlen industries limited?

In this question, we have the table data for an 8 periods duration, for each period, we have actual…

Answered: Harlen Industries Limited has a simple…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section: Chapter Questions

Problem 41P

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Harlen Industries Limited has a simple forecasting model whose forecast demand has been plotted against actual demand for an 8 months duration. The firm uses an average weekly demand which is shown below:

WEEK	FORECAST DEMAND	ACTUAL DEMAND
1	140	135
2	150	160
3	165	155
4	170	175
5	155	180
6	160	150
7	170	145
8	135	140

Compute the Mean Absolute Deviation (MAD) of the Harlen industries limited?

Calculate the Mean Square Error (MSE) for Harlen industries Limited?

Calculate the Cumulative Forecast Error (CFE) of Harlen industries limited?

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