The following table shows predicted product demand using your particular forecasting method along with the actual demand that occurred:   FORECAST ACTUAL 1,515 1,585 1,415 1,515 1,715 1,615 1,755 1,680 1,805 1,730     Compute the tracking signal using the mean absolute deviation and running sum of forecast errors.

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.8: Probability
Problem 31E
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The following table shows predicted product demand using your particular forecasting method along with the actual demand that occurred:

 

FORECAST ACTUAL
1,515 1,585
1,415 1,515
1,715 1,615
1,755 1,680
1,805 1,730
 

 

Compute the tracking signal using the mean absolute deviation and running sum of forecast errors.

 

 

Running Sum
of Forecast
Errors
Absolute
Deviation
Sum of
Absolute
Deviation
Mean
Absolute
Deviation
Period
Forecast
Actual
Deviation
Tracking Signal
1
1,515
1,585
2
1,415
1,515
3
1,715
1,615
4
1,755
1,680
5
1,805
1,730
Transcribed Image Text:Running Sum of Forecast Errors Absolute Deviation Sum of Absolute Deviation Mean Absolute Deviation Period Forecast Actual Deviation Tracking Signal 1 1,515 1,585 2 1,415 1,515 3 1,715 1,615 4 1,755 1,680 5 1,805 1,730
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