Computing mean absolute percentage error of forecasts

Assignment Help Basic Statistics

Reference no: EM1321591

Q1) Table lists number (in millions) of Chevrolet passenger cars sold to dealers in the U.S. and Canada from 1980 to 1985.

Year	Sales
1980	1.740
1981	1.444
1982	0.896
1983	1.289
1984	1.455
1985	4.882

Q2) Using exponential smoothing technique to data from 1980 to 1985, predict number of Chevrolet passenger cars sold to U.S. and Canadian dealers in 1985 using w = .3.

a) 2.448 million cars.

b) 3.834 million cars.

c) 4.882 million cars.

d) 3.427 million cars.

Q3) Using exponential smoothing technique to data from 1980 to 1985, predict the number of Chevrolet passenger cars to be sold to U.S. and Canadian dealers in 1985 using w = .7.

a) 3.834 million cars.

b) 4.882 million cars.

c) 2.448 million cars.

d) 3.427 million cars.

Q4) Consider actual values Y and predict values F given in table below.

Time Period	Y	F
1	19.5	19.3
2	21.5	20.9
3	22.6	22.5

Compute mean absolute deviation (MAD) of the forecasts.

a) 0.30

b) 0.37

c) 1.42

d) 0.90

Consider actual values Y and predict values F given in table below.

Time Period	Y	F
1	19.5	19.3
2	21.5	20.9
3	22.6	22.5

Compute mean absolute percentage error (MAPE) of the forecasts.

a) 0.90

b) 0.37

c) 0.30

d) 1.42

Reference no: EM1321591

Questions Cloud

Determine the critical value for hightailed test : Using the z table in Table E of Appendix C, determine the critical value for the hightailed test with a = 0.035.

Purpose of a business strategy : Discuss in scholarly detail the purpose of a business strategy and expand on these concepts discussing a differentiation business strategy?

Determine the following values : Determine the following values

Matter whether the inflation is expected or unexpected : Elucidate why or elucidate why not. Does it matter whether the inflation is expected or unexpected.

Computing mean absolute percentage error of forecasts : Compute mean absolute percentage error (MAPE) of the forecasts.

Principles of the corporate social justice approach : Discuss in scholarly detail the defining principles and the implementing principles of the corporate social justice approach.

The arc cost elasticity of demand : when given 5 costs also quantities over 5 months also asked for the arc cost elasticity of demand.

Explain all the following different factors : Explain all the different factors that might cause a confidence interval for μy/x0 to increase in width. [There are five. Look at the formula for the confidence interval, but please EXPLAIN THE FACTORS THAT COULD MAKE THE INTERVAL WIDER IN PLAIN ENGL..

Fast distribution company-case study : Write an essay in response to the following: Elle is walking to work along a sidewalk next to a road. A truck owned by Fast Distribution Company (FDC) strikes and injures Elle, causing her injuries that result in more than $250,000 in medical expe..

User Account

All Pages