Calculate the mad, mape, mse and the tracking signal

Assignment Help Operation Management

Reference no: EM13101310

The Multifacted Garden Store uses two forecasting techniques to predict annual national sales of their lawnmowers at their various franchises. The actual sales and the corresponding forecasts for techniques 1 & 2 for the period spring 2012 to spring 2013 are given below:

Spring 12 Summer 12 Fall 12 Winter 12 Spring 13
Actual 17178 11452 6106 1527 18183
FC 1 16948 11250 6308 1604 18007
FC 2 17453 12102 6006 1445 18504

a. Calculate the MAD, the MAPE, the MSE and the tracking signal for Forecast 1
b.Calculate the MAD, the MAPE, the MSE and the tracking signal for Forecast 2
c. Compare results obtained in parts a and b
d. The company is interested in developing forecasts for their lawnmower sales during the summer of 2011. which of the two forecasting techniques would you recommend that they use, and why
e. Actual sales figures for the previous three years are given below

Spring Summer Fall Winter Total
2010 15125 9650 4195 1230 30200
2011 16095 10730 5300 1327 33452
2012 17178 11452 6106 1527 36263

Can you suggest an appropriate technique that might yield reasonable forecasts for this time series? Use the method you selected to forecast sales for spring 2013

Reference no: EM13101310

Questions Cloud

Under what conditions will this minimum occur : A wave of amplitude 0.40 m interferes with a second wave of amplitude 0.3 m traveling in the same direction. (a) What is the largest resultant amplitude that can arise.

Estimate the theoretical flow time of the process : A customer joining the line selects a pizza by consulting the billboard, marks her selection on a customized form, and hands the form to one of several assemblers who produce the pizza.

Illustrate what information do the maintenix modules provide : Give examples of three decisions supported by the Maintenix system. Illustrate what information do the Maintenix modules provide to support each of these decisions?

Random sample of the hundered registered voters : Pollsters try to determine whether or not a person is a "likely voter" before they count their opinion in a poll. If we assume 40% of the registered voters will actually vote, in a random sample of 100 registered voters we can be 95% confident tha..

Calculate the mad, mape, mse and the tracking signal : The Multifacted Garden Store uses two forecasting techniques to predict annual national sales of their lawnmowers at their various franchises.

Fact that investors lost millions of dollars and employees : Based on the fact that investors lost millions of dollars and employees found themselves unemployed and holding worthless stock options, do you see any lapse of ethics or corporate social responsibility in the AOL

Determine the proper units for momentum using dimensional : Kinetic energy KE has dimensions kg · m^2/s^2. It can be written in terms of the momentum p and mass m as KE=p^2/2m. (a) Determine the proper units for momentum using dimensional analysis. (Use the following as necessary: kg, m, and s.)

Point estimate and interval estimate for population : Differentiate between a point estimate and an interval estimate for a population parameter. What is necessary for an interval estimate to be a confidence interval?

Find out the additional funding needed (afn) : Project next year's balance sheet in the space provided above to find out the additional funding needed (AFN) for this new product. Assume notes payable at the end of 2007 are paid off in 2008.

User Account

All Pages