Answered: a. Compute MAD for each set of…

a. Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.)

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.7: Exponential Smoothing Models

Problem 26P: The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel...

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Question

UltraPure used two different techniques (F1 and F2) to forecast demand for cases of bottled water.

Actual demand and the two sets of forecasts are in the table below.

		PREDICTED DEMAND
Period	Demand	F1	F2
1	68	67	60
2	75	67	67
3	70	71	70
4	74	69	72
5	69	71	77
6	72	70	77
7	80	72	75
8	78	75	83

a. Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.)

UltraPure used two different techniques (F1 and F2) to forecast demand for cases of bottled water.
Actual demand and the two sets of forecasts are in the table below.
Period
1
2
3
4
5
6
7
Demand
68
75
70
74
69
72
80
78
MAD F1
MAD F2
PREDICTED DEMAND
CONSERNA
F1
67
67
71
69
71
78
72
75
段能印花刀刀刀58
F2
68
67
70
72
77
77
75
83
a. Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2
decimal places.)
appears to be more accurate.

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

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