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Calculate the mean absolute deviation

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Wines sells a variety of wines at its retail store in a shopping mall. The wines are reasonably priced to reach out to the mass market. The demand for wines is volatile and varies from month to month. The store orders from its suppliers in South Africa. The lead time is normally one month, mainly consisting of the time to transport the shipment from South Africa to Singapore. The store keeps a certain level of inventory at its warehouse

The following data contains the actual sales of wines for the past six months.

Month Sales (bottles)

1 340
2 350
3 360
4 400
5 420
6 500

(a) Apply simple the linear regression method where the SLOPE is 30 and INTERCEPT is 390, to forecast the demand of each month from month 1 to month 6. Calculate the Mean Absolute Deviation (MAD) and Mean Absolute Percentage Error (MAPE).

Reference no: EM132693950

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