Can someone please explain the steps of how my professor got these answers If the forecasted value of the time series variable for period 2 is 22 5 and the actual value observed for period 2 is 25, what is the forecast error in period 2 Answer 2 5 2 Suppose for a particular week, the forecasted sal...

The Answer is in the image, click to view ...

Can someone please explain the steps of how my professor got these answers? If the forecasted value

Fantastic news! We've Found the answer you've been seeking!

Question:

Can someone please explain the steps of how my professor got these answers?

If the forecasted value of the time series variable for period 2 is 22.5 and the actual value observed for period 2 is 25, what is the forecast error in period 2?

Answer: 2.5

2.Suppose for a particular week, the forecasted sales were 4,000. The actual sales were 3,000. What is the value of the mean absolute percentage error?

Answer: 33.3%

Posted Date: Jun 14, 2024 02:11 AM

See More Questions

Question with Sample AnswerLimited Partnership. Dorinda, Luis, and Elizabeth form a limited partnership. Dorinda is a general partner, and Luis and Elizabeth are limited partners. Discuss fully...
Ohio Quarry, Inc., has $12,000,000 in assets. Its expected operating income (EBIT) is $2,000,000 and its income tax rate is 40 percent. If Ohio Quarry finances 20 percent of its total assets with...
Do you agree or disagree with the following statement: "Because a small dollar amount is involved, a needs assessment to purchase a $600 PC for an employee is overkill
Discuss the extent to which you believe the rule " Adults should never sexually molest children" is absolute. Do you think it is right to violate this rule? if so, under what conditions and why?
How do team dynamics evolve over the lifecycle of a project, and what are the key inflection points where team leaders need to intervene to maintain productivity and cohesion ?
I am having a a hard time understanding the Best Practices for Developing High Performance Leaders regarding Visible Commitment and best practices for leaders regarding Openness to New Ideas? What...
Against the backdrop of accelerating digital disruption and the advent of transformative technologies, what strategic interventions can organizational leaders employ to mitigate resistance to change...
Leaders will typically use an avoiding conflict resolution style when an issue is really not that important to them but is very important to the other party.Explain
In what ways can leaders implement collaborative governance structures to ensure that decision-making is decentralized yet coherent across various organizational levels ?
Garden Sales, Incorporated, sells garden supplies. Management is planning its cash needs for the second quarter. The company usually has to borrow money during this quarter to support peak sales of...

Can someone please explain the steps of how my professor got these answers? If the forecasted value

Question:

Expert Answer:

Students also viewed these accounting questions