In this problem, you are to test the validity of your forecasting model. Here are the forecasts
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. Then decide whether the forecasting model you have been using is giving reasonable results.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Operations And Supply Chain Management The Core Plus
ISBN: 9780073278292
1st Edition
Authors: F. Robert Jacobs , Richard Chase
Question Posted: