Calculate mape for each data set, Operation Management

Assignment Help:

DO different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: PREDICTED DEMAND Period Demand F1 F2 1 68 66 63 2 75 72 64 3 70 75 70 4 74 66 71 5 69 74 73 6 72 67 73 7 80 72 77 8 78 70 84 a. Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal place.) MAD F1 MAD F2 appears to be more accurate. b. Compute the MSE for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.) MSE F1 MSE F2 appears to be more accurate. c. In practice, either MAD or MSE would be employed to compute forecast errors. What factors might lead a manager to choose one rather than the other? Either one might already be in use, familiar to users, and have past values for comparison. If are used, MSE would be natural; if are used, MAD would be more natural. d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations to 2 decimal places and and final answers to 2 decimal places.) MAPE F1 MAPE F2


Related Discussions:- Calculate mape for each data set

Explain what happens to the leased property, Ann leases an office in Ted's ...

Ann leases an office in Ted's building for a one-year term. At the end of the period specified in the lease, the lease ends without notice, and possession of the office returns to

Explain distinction between feasibility and acceptability, Remind yourself ...

Remind yourself of the distinction between feasibility, acceptability and vulnerability discussed. Evaluate both technologies using these criteria.

Explain what is the maximum number of defectives allowed, In a double sampl...

In a double sampling plan the two acceptance numbers are: c1 = 8 and c2 = 12. The number of defectives found in the first sample is 9. Therefore, a second sample is taken. What is

Explain what design capacity would be needed, In a job shop, effective capa...

In a job shop, effective capacity is only 50% of design capacity, and actual output is 80% of effective output. What design capacity would be needed to achieve an actual output of

Analyze the environment and processes and procedures, Analyze the environme...

Analyze the environment, processes, and procedures at your work or school to determine which aspects can be controlled and which cannot be controlled. Explain your rationale. •From

Explain quality of work life, Why are unions exploring new collaboration so...

Why are unions exploring new collaboration solutions in the face of economic/work adversity, and how did Saturn's ambitious Quality of Work Life (QWL) program address these factors

Explain the importance of influence, Discuss the importance of influence. H...

Discuss the importance of influence. How you would attempt to apply it to convince your team to work an extra day per week to earn time off later. Analyze how you would influence y

Global operations management , what are the key issues to be considered for...

what are the key issues to be considered for managing global operations?

Linear programming model, You are manger of a bakery, where only pizza's ar...

You are manger of a bakery, where only pizza's are baked. For this purpose,you purchse flour at a rate of Rs.4/kg. It is notices that in a week at most five pizza's can be sold. At

Types of manufacturing system & layout, Types of Manufacturing System & Lay...

Types of Manufacturing System & Layout A layout essentially refers to the arranging and grouping of machines which are meant to produce goods. Grouping is done on different li

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd