Two independent set of forecasts based on judgment and experience have been prepared each month for tire

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Two independent set of forecasts based on judgment and experience have been prepared each month for tire past 10 months. The forecasts and actual demand are as follows:

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a. Calculate tire MSE, MAD, and MAPE for each forecast. Does one forecast seem superior? Explain.
b. Do all three measures of forecast errors provide tire same conclusion (i.e., are they consist tent) in this case? Do you expect consistent results in. every case? Explain.
c. Calculate 2s control limits for each forecast and determine if each forecasting process is in control. Explain.
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Operations Management

ISBN: 978-0071091428

4th Canadian edition

Authors: William J Stevenson, Mehran Hojati

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