Page of Month Actual Sales Naive Forecast - Absolute Value of (# of Product X) Sales Errors (# of Product X) Jan/19 Feb/19 Mar/19 1,860 2,033 3,556 4,211 6,250 Аpr/19 May/19 Jun/19 Jul/19 Aug/19 Sep/19 Oct/19 7,990 10,250 9,850 9,980 9,990 7,895 5,353 Nov/19 Dec/19 Jan/20 a) Explain the calculation method for the Naive Forecast model. If at the end of every month from January/2019 to December/2019, the Sales Manager b) would have applied the Naive Model, calculate the Naive Forecast values for the months of Febru/2019 and all the way to January/2020. Enter those values on the table above. c) Calculate the Absolute Value of Error for every forecasted month, from February/2019 to December/2020. Enter those values on the table above.
Page of Month Actual Sales Naive Forecast - Absolute Value of (# of Product X) Sales Errors (# of Product X) Jan/19 Feb/19 Mar/19 1,860 2,033 3,556 4,211 6,250 Аpr/19 May/19 Jun/19 Jul/19 Aug/19 Sep/19 Oct/19 7,990 10,250 9,850 9,980 9,990 7,895 5,353 Nov/19 Dec/19 Jan/20 a) Explain the calculation method for the Naive Forecast model. If at the end of every month from January/2019 to December/2019, the Sales Manager b) would have applied the Naive Model, calculate the Naive Forecast values for the months of Febru/2019 and all the way to January/2020. Enter those values on the table above. c) Calculate the Absolute Value of Error for every forecasted month, from February/2019 to December/2020. Enter those values on the table above.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 28PPS
Related questions
Question
Need help answering A,B and C.
Transcribed Image Text:Page
1.
of
Month
Actual Sales
Naive Forecast -
Absolute Value of
(# of Product X)
Sales
Errors
(# of Product X)
1,860
2,033
Jan/19
Feb/19
Mar/19
Apr/19
3,556
4,211
6,250
May/19
Jun/19
Jul/19
Aug/19
Sep/19
Oct/19
Nov/19
Dec/19
7,990
10,250
9,850
9,980
9,990
7,895
5,353
Jan/20
a)
Explain the calculation method for the Naive Forecast model.
If at the end of every month from January/2019 to December/2019, the Sales Manager
would have applied the Naive Model, calculate the Naive Forecast values for the months of
Febru/2019 and all the way to January/2020. Enter those values on the table above.
b)
c)
Calculate the Absolute Value of Error for every forecasted month, from February/2019 to
December/2020. Enter those values on the table above.
- Why are there months when the Absolute Value of Error is very low and months when it is
gher?
- Calculate the Mean Absolute Deviation (MAD), the Mean Squared Error (MSE) and the
ean Absolute Percent Error (MAPE) for the Naive Forecast you created for Product X from
March/2019 to December/2020 (not from February/2019 to January/2020).
d)
e)
Page 1 of 2
MacBook A
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