Month, t Demand, Forecast, D. F, Error, E, Error, Squared, Absolute Error, Absolute Percent Error, ((태/D)(100) 200 225 -25 625 25 12.5% 240 220 20 400 20 8.3 300 285 15 225 15 5.0 4 270 290 -20 400 20 7.4 230 250 -20 400 20 8.7 6 260 240 20 400 20 7.7 7 210 250 -40 1,600 40 19.0 8 275 240 35 1,225 35 12.7 Total -15 5,275 195 81.3% 2. 3.

Marketing
20th Edition
ISBN:9780357033791
Author:Pride, William M
Publisher:Pride, William M
Chapter6: Target Markets: Segmentation And Evaluation
Section: Chapter Questions
Problem 17DRQ: Under what conditions might a firm use multiple forecasting methods?
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Question

The following table shows the actual sales of upholstered chairs for a furniture manufacturer and the forecasts
made for each of the last 8 months. Calculate CFE, MSE, s, MAD, and MAPE for this product.

Month,
t
Demand, Forecast,
D.
F,
Error,
E,
Error, Squared,
Absolute Error,
Absolute Percent Error,
((태/D)(100)
200
225
-25
625
25
12.5%
240
220
20
400
20
8.3
300
285
15
225
15
5.0
4
270
290
-20
400
20
7.4
230
250
-20
400
20
8.7
6
260
240
20
400
20
7.7
7
210
250
-40
1,600
40
19.0
8
275
240
35
1,225
35
12.7
Total
-15
5,275
195
81.3%
2.
3.
Transcribed Image Text:Month, t Demand, Forecast, D. F, Error, E, Error, Squared, Absolute Error, Absolute Percent Error, ((태/D)(100) 200 225 -25 625 25 12.5% 240 220 20 400 20 8.3 300 285 15 225 15 5.0 4 270 290 -20 400 20 7.4 230 250 -20 400 20 8.7 6 260 240 20 400 20 7.7 7 210 250 -40 1,600 40 19.0 8 275 240 35 1,225 35 12.7 Total -15 5,275 195 81.3% 2. 3.
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