Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me with the below. I previously asked the question on here but want to check I have done part a right. Part b,

Please help me with the below. I previously asked the question on here but want to check I have done part a right. Part b, I am really struggling with. I can not figure out how MAD is calculated. I've seen answers for part b online, but no thorough explanation. Every time I calculate it, I do not get the same answer as the ones given on CourseHero. Really appreciate any help/explanation.

Q1 10 Marks Sales
Month Sales 2 Months St. Error 3 Months St. Error
a) Develop the 2-months and 3-months moving averages for the supermarket sales. 1 125 #N/A #N/A #N/A #N/A
Note: use data analysis tool pack. 5 Marks 2 141 133 #N/A #N/A #N/A
3 125 124 5.70088 129.6667 #N/A
b) Which moving average appears to provide more accurate forecasts based on MAD? Explain. 4 123 124.5 1.27475 124.6667 #N/A
Note: show your MAD calculations. 5 Marks 5 126 135.5 6.80074 131.3333 8.812869
6 145 146 6.75463 139.3333 9.079892
7 147 154.5 5.35023 151.3333 10.9443
8 162 158.5 5.85235 154.6667 7.586538
a) answer on the right 9 155 156.5 2.69258 158.3333 6.164414
10 158 152.5 4.03113 153.3333 3.666667
11 147 153 5.75543 154.6667 4.434712
12 159

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

Step: 3

blur-text-image

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

Auditing Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

0130674842, 978-0130674845

More Books

Students also viewed these Mathematics questions

Question

What can the inventory turnover ratio tell us? Discuss.

Answered: 1 week ago

Question

6. Talk among students, such as giving help or socializing

Answered: 1 week ago

Question

1. Maintain my own perspective and my opinions

Answered: 1 week ago