Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Harlen Industries has a simple forecasting model: Take the actual demand for the same month last year and divide that by the number of fractional

Harlen Industries has a simple forecasting model: Take the actual demand for the same month last year and divide that by the number of fractional weeks in that month. This gives the average weekly demand for that month. This weekly average is used as the weekly forecast for the same month this year. This technique was used to forecast eight weeks for this year, which are shown in the following tables along with the actual demand that occurred.
The following eight weeks show the forecast (based on last year) and the demand that actually occurred:
WEEK FORECAST DEMAND ACTUAL DEMAND
1140137
2140133
3130144
4137154
5132174
6142164
7165178
8142198
Compute the MAD of forecast errors.

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

More Books

Students also viewed these General Management questions

Question

What is the name of the program?

Answered: 1 week ago