In this problem, you are to test the validity of your forecasting model. Here are the forecasts for a model you have been using and the actual demands that occurred: WEEK FORECAST ACTUAL 1 800 900 2 850 1,000 3 950 1,050 4 950 900 5 1,000 900 6 975 1,100 Use the method stated in the text to compute the MAD and tracking signal for each week. Note: Negative values should be indicated by a minus sign. Round your "Tracking Signal" to 1 decimal place and all other answers to the nearest whole number.
In this problem, you are to test the validity of your forecasting model. Here are the forecasts for a model you have been using and the actual demands that occurred: WEEK FORECAST ACTUAL 1 800 900 2 850 1,000 3 950 1,050 4 950 900 5 1,000 900 6 975 1,100 Use the method stated in the text to compute the MAD and tracking signal for each week. Note: Negative values should be indicated by a minus sign. Round your "Tracking Signal" to 1 decimal place and all other answers to the nearest whole number.
Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
1st Edition
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:HOUGHTON MIFFLIN HARCOURT
Chapter9: Solving Quadratic Functions
Section: Chapter Questions
Problem 4CA
Related questions
Question
In this problem, you are to test the validity of your forecasting model. Here are the forecasts for a model you have been using and the actual demands that occurred:
WEEK | FORECAST | ACTUAL |
---|---|---|
1 | 800 | 900 |
2 | 850 | 1,000 |
3 | 950 | 1,050 |
4 | 950 | 900 |
5 | 1,000 | 900 |
6 | 975 | 1,100 |
-
Use the method stated in the text to compute the MAD and tracking signal for each week.
Note: Negative values should be indicated by a minus sign. Round your "Tracking Signal" to 1 decimal place and all other answers to the nearest whole number.
-
Decide whether the forecasting model you have been using is giving reasonable results.
multiple choice
-
The forecasting model is unacceptable.
-
The forecasting model is acceptable.
-
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 5 steps with 7 images
Recommended textbooks for you
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL