Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following data represents the sales that has been sold year over year for Computers at our shop. Use the data to determine Mean forecast

image text in transcribed
The following data represents the sales that has been sold year over year for Computers at our shop. Use the data to determine Mean forecast error (MFEL, Mean squared forecast error (MFE), Mean absolute Error (MAE) and Mean Absolute Percent Error (MAPE). Do this for three forecasting types: 1. Native Method (Prior Week) 2. Average of Prior Weeks 3. 3 Year Moving Window **Conclude on which of the above was best for this data set. Also determine the forecast for week 16 for each of the three methods Week Value 1 2 3 4 5 6 7 8 $85,685 $109,568 $110,326 $150,059 $125,025 $180,503 $185,548 $190,570 $140,587 $175,568 $159,065 $201.504 $210,258 $217,508 $234,564 9 10 12 13 14 15 D) Focus The following data represents the sales that has been sold year over year for Computers at our shop. Use the data to determine Mean forecast error (MFEL, Mean squared forecast error (MFE), Mean absolute Error (MAE) and Mean Absolute Percent Error (MAPE). Do this for three forecasting types: 1. Native Method (Prior Week) 2. Average of Prior Weeks 3. 3 Year Moving Window **Conclude on which of the above was best for this data set. Also determine the forecast for week 16 for each of the three methods Week Value 1 2 3 4 5 6 7 8 $85,685 $109,568 $110,326 $150,059 $125,025 $180,503 $185,548 $190,570 $140,587 $175,568 $159,065 $201.504 $210,258 $217,508 $234,564 9 10 12 13 14 15 D) Focus

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

The Internet Supply Chain Impact On Accounting And Logistics

Authors: D. Chorafas

5th Edition

0333949633, 9780333949634

More Books

Students also viewed these Accounting questions

Question

What are the responsibilities of the position?

Answered: 1 week ago