Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 18, 2023

Given the following actual demand and forecasts for the last five months: Month Actual Demand 1 2 3 5 What is the Forecast bias?

Given the following actual demand and forecasts for the last five months: Month Actual Demand 1 2 3 5 What is

Given the following actual demand and forecasts for the last five months: Month Actual Demand 1 2 3 5 What is the Forecast bias? 228 240 232 246 255 Forecast 214 248 245 248 240 Given the following actual demand and forecasts for the last five months Month 1 2 3 4 5 Actual Demand Forecast 256 259 244 255 258 277 246 265 240 248 What is the Mean Absolute Percentage Error (MAPE? (answer in three decimals. So, if the answer is 5,64% , you should stage 0.056)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Answer To calculate the forecast bias we need to subtract the actual demand from the forecasted demand for each month The resulting values represent t... 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

Step: 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

A Survey Of Mathematics With Applications

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

11th Edition

0135740460, 978-0135740460

More Books

Students also viewed these General Management questions

Question

You work for a defense attorney who represents the defendant, Mr. X. He has been charged with Child Sexual Abuse of his stepdaughter. The attorney has you review the discovery packet from the State:...

Answered: 1 week ago

Question

Operating System Overview Conducting independent research, please write a 2-3 page paper providing an overview of operating systems. In particular, indentify the role of an operating system, methods...

Answered: 1 week ago

Question

Identify two specific examples of Jim Crow Legislation in the South during the early Twentieth Century.

Answered: 1 week ago

Question

★★★★★

A production line will be used to manufacture an item. The line will be operated with using the same personnel during single shift operations. During the initial line certification, the first item...

Answered: 1 week ago

Question

★★★★★

An analyst has modeled the stock of a company using the Fama-French three-factor mode. The rest-free rate is 5%, the required market return is 10%, the risk premium for small stocks (rSMB) is 3.2%,...

Answered: 1 week ago

Question

★★★★★

4-5 Explain how to write a job specification.

Answered: 1 week ago

Question

★★★★★

What can clinical psychologists (or students in training) do to enhance their cultural competence with members of this culture?

Answered: 1 week ago

Question

★★★★★

The Palaima City government provides postemployment health care benets to retirees. Plan members contribute between $65 and $90 per month depending on age and marital status. The government...

Answered: 1 week ago

Question

★★★★★

Mohur Ltd. tiene un capital social de 40 00 000 rupias que consta de acciones de capital totalmente pagadas de 10 rupias cada una. La ganancia neta para el ao 2004-05 fue de Rs.60,00,000. Tambin ha...

Answered: 1 week ago

Question

★★★★★

An x chart is used to control the mean of a normally distributed quality characteristic. It is known that = 6.0 and n = 4. The center line = 200, UCL = 209, and LCL = 191. If the process mean shifts...

Answered: 1 week ago

Question

★★★★★

Need help with 8 and 9 only please QUESTION6 Let R denote the set of positive real numbers. Consider the bijection f R R, where for everyxeR, x) 12. What is flos? o b._1 ?? od.1 QUESTION 7 Let R+...

Answered: 1 week ago

Question

★★★★★

a (400-2a) Figure 1.48 Problem 4 4 m T a A 15 mm- D |-- P-17 kN A round steel bar of a length of 400mm and a diameter of 15mm at the middle portion is subjected to an axial tensile force of 17kN....

Answered: 1 week ago

Question

★★★★★

One of the restrictions in this exercise was that you were not allowed to use loops. All of the functions in this exercise could have been implemented with loops instead of list methods. Which do you...

Answered: 1 week ago

Question

★★★★★

Answer the question in terms of kN for the last picture no need to do the other ones with the solution. In problem 2-23, a round tube section 3 mm thick was one of the options to prevent buckling. If...

Answered: 1 week ago

Question

★★★★★

Question 1 (6 marks) Two cables are attached to a wall by a pin at O with the tensions in the cables adjusted to 450 N and 500 N as shown in the following diagram. 450N 30 500N Use the method of...

Answered: 1 week ago

Question

★★★★★

Many people have argued that the continuum of processes described by Garvin is outdated and does not apply to digital businesses. Very often digital businesses do not have equipment, or raw material,...

Answered: 1 week ago

Question

★★★★★

Case 9-28 Critiquing a Report; Calculating Spending Variances [LO9-3, LO9-5, LO9-6] Boyne University offers an extensive continuing education program in many cities throughout the state. For the...

Answered: 1 week ago

Question

★★★★★

For a Poisson process of rate , the Bernoulli arrival approximation assumes that in any very small interval of length , there is either 0 arrivals with probability 1- or 1 arrival with probability ....

Answered: 1 week ago

Question

★★★★★

Add in the indicated base. 21 3 + 20 3

Answered: 1 week ago

Question

★★★★★

Evaluate the expression. -100

Answered: 1 week ago

Question

★★★★★

Use your intuition to determine whether the variation between the indicated quantities is direct or inverse. On Earth, the weight and mass of an object.

Answered: 1 week ago

Question

★★★★★

8.16. Table 8.25 is from the 2006 General Social Survey, cross-classifying happiness (HAPPY) and marital status (MARITAL). TABLE 8.25 Marital Very Pretty Not Too Status Happy Happy Happy Married...

Answered: 1 week ago

Question

★★★★★

8.14. Table 8.24 shows SPSS analyses with the 2004 GSS, for variables party ID and race. (a) Report the expected frequency for the first cell, and show how SPSS obtained it. (b) Test the hypothesis...

Answered: 1 week ago

Question

★★★★★

8.15. For a 2 X 4 cross classification of gender and religiosity (very, moderately, slightly, not at all) for recent GSS data, the standardized residual was 3.2 for females who are very religious,...

Answered: 1 week ago

Previous Question Next Question