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An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: YEAR QUANTITY SOLD Four
An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: YEAR QUANTITY SOLD Four years ago 10,000 Three years ago 12,000 Two years ago 18,000 Last year 20,000 The previous trend line had predicted 18,500 for two years ago, and 19,700 for last year. What was the mean absolute deviation (MAD) for these forecasts?
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Based on the image the actual quantity sold two years ago was 18000 while the forecasted value was 18500 There is an absolute deviation of 500 The actual quantity sold last year was 20000 while the fo...
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Management Accounting
Authors: Leslie G. Eldenburg, Albie Brooks, Judy Oliver, Gillian Vesty, Rodney Dormer, Vijaya Murthy, Nick Pawsey
4th Edition
0730369382, 978-0730369387
