Solution-Compute the mse the mape and the rsfe forecasting

Compute the mse the mape and the rsfe forecasting method

Assignment Help Supply Chain Management

Reference no: EM13849394

1. The owner of the Chocolate Outlet Store wants to forecast chocolate demand. Demand for the preceding four years is shown in the following table:

YEAR	DEMAND (POUNDS)
1	68,800
2	71,000
3	75,500
4	71,200

Forecast demand for Year 5 using the following approaches: (1) a three-year moving average; (2) a three-year weighted moving average using. 40 for Year 4, .20 for Year 3, and .40 for Year 2; (3) exponential smoothing with a = .30, and assuming the forecast for Period 1 = 68,000.

2. The forecasts generated by two forecasting methods and actual sales are as follows:

MONTH	SALES	FORECAST1	FORECAST 2
1	269	275	268
2	289	266	287
3	294	290	292
4	278	184	298
5	268	270	274
6	269	268	270
7	260	261	259
8	275	271	275

Compute the MSE, the MAD, the MAPE, the RSFE, and the tracking signal for each forecasting method. Which method is better? Why?

Reference no: EM13849394

Questions Cloud

Retailing division of argon clothing : The Retailing Division of Argon Clothing Inc. provided the following information on its cash flow from operations:

Facts on maternal health discussed in the module : From the facts on Maternal Health discussed in the Module III notes, identify ONE and write a short paragraph about it giving a specific country/ies example to illustrate the fact. I am not looking for terms like 'globally', rather I want you to s..

Operating lease for tax purposes : Was the lease a capital lease (conditional purchase in tax terms) or a true operating lease for tax purposes? As noted above, justify your answer.

What was the best dream or worst nightmare : What was the best dream or worst nightmare that you have ever had. What are five connecting words you frequently use? Use each one in a sentence.

Compute the mse the mape and the rsfe forecasting method : Compute the MSE, the MAD, the MAPE, the RSFE, and the tracking signal for each forecasting method. Which method is better? Why?

Prepare a nursing webliography : Prepare a NURSING WEBLIOGRAPHY. This exercise develop a brief annotated webliography

Excel problem : Peg Henderson is an assistant dean at the College of Business Administration (CBA). She uses Excel daily for a variety of tasks, including tracking student internships and alumni. For this project, Peg wants you to create an Excel table from infor..

A teacher using a thematic-unit approach : A teacher using a thematic-unit approach

Amount of reduction in morbidity : For the program with demonstrated positive results, summarize the program and provide data demonstrating the amount of reduction in morbidity and/or mortality

User Account

All Pages

Compute the mse the mape and the rsfe forecasting method

Reference no: EM13849394

Reference no: EM13849394

Questions Cloud

Reviews

Write a Review

Supply Chain Management Questions & Answers

Find the break-even quantity

Supply chain strategy

Purchasing strategy and strategic purchasing

What are the major sources of uncertainty that affect supply

What are the total costs of delivering style

Why the alimentary cannalis able to digest starch

How a company can sustain a long-term supply chain strategy

What are the various systems in supply chain management

What is public sector internal auditing

What impact does the internet have on this

Bus 501 imagine that you are working on a

Explain four types of supply chains

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT