1. Your historical sales and two forecast approaches are provided in the Table below. Sales Forecast A...
Fantastic news! We've Found the answer you've been seeking!
Question:
1. Your historical sales and two forecast approaches are provided in the Table below.
| Sales | Forecast A | Forecast B |
| 275.00 | 295.00 | 295.00 |
| 325.00 | 293.33 | 295.00 |
| 315.00 | 286.67 | 305.83 |
| 300.00 | 305.00 | 300.00 |
| 290.00 | 313.33 | 303.33 |
| 285.00 | 301.67 | 294.17 |
a. Does forecast A have any bias? If not, enter NO. If it has bias, enter underforecasting or overforecasting depending on which is true. Do not include any punctuation.
b. What is the mean absolute deviation for forecast A? Answer to two decimal places.
c. What is the mean absolute deviation for forecast B? Answer to two decimal places.
d. Which forecast is preferred given mean absolute deviations? Enter A or B and not punctuation.
e. What is the mean squared error for forecast A? Answer to two decimal places.
f. What is the mean squared error for forecast B? Answer to two decimal places.
Expert Answer:
Posted Date:
