Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A manager has been using a certain forecasting technique to forecast demand for word processing units for the past five periods. Actual and forecasted amounts

image text in transcribed
A manager has been using a certain forecasting technique to forecast demand for word processing units for the past five periods. Actual and forecasted amounts are shown below. He had difficulties in identifying whether the used technique is better than the weighted moving average (WMA) with 0.5 being the weight with the most resent, 0.3, 0.2, D) Calculate the MAD for the WMA forecast? (Note: write the answer as a number with 2 decimal places only, e.g. 12.50, 55.83, 12.00) * Period 1 2 3 4 5 UAWN Demand 90 85 91 92 95 Forecasted 98 87 95 7 88

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Empirical Techniques In Finance

Authors: Ramaprasad Bhar, Shigeyuki Hamori

1st Edition

3642064175, 978-3642064173

More Books

Students also viewed these Finance questions