Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Table 2. The manager of Carpet City outlet store needs to be able to forecast accurately demand for Soft Shang carpet. Demand for the

image text in transcribed

Table 2. The manager of Carpet City outlet store needs to be able to forecast accurately demand for Soft Shang carpet. Demand for the past 20 weeks appears in table 1 below week Deman d 20 2 28 3 22 4 18 5 22 6 22 7 22 8 26 9 23 10 23 11 23 12 27 113 25 14 22 15 23 16 17 18 678 14 14 15 19 11 20 16 21 22 23 24 Forecast Error Abs.Dev SQ Error APE Using the exponential smoothing forecasting techniques with a = .40. a). Compute the exponentially smoothed forecast average without trend: Use this formula F= a(A)+(1- ) F-1 to calculate separately the forecast for all the required weeks in the table provided, before inserting the answers from your calculations in the forecast column of the table. b). Calculate the Mean Absolute Deviation (MAD). c). Mean Square Error (MSE). d). Mean Absolute Percentage Error (MAPE).

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

Small Business Management Entrepreneurship and Beyond

Authors: Timothy s. Hatten

5th edition

538453141, 978-0538453141

More Books

Students also viewed these General Management questions

Question

How the interest rate is typically set on bank credit cards?

Answered: 1 week ago