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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
Quantitative Versus Qualitative Measurements A variety of formulae can be used to determine productivity as illustrated. These are generally referred to as 'hard' or quantifia
Q 1: Without knowing Gary Erickson's age, where would you guess he falls in the four generations of workers as delineated by Zemke? Q 2: Consider the terminal and instrumental
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Explain about the dedicated cell production in modern manufacturing environment. Dedicated cell production: Traditional production has been regarding the specialisation o
Determine the sample standard deviation(s) for the following data: 7, 9, 2, 0, 1, and 5. s = 2.805 s = 3.266 s = 2.927 s = 3.578
The earnings, dividends, and common stock price of Carpetto Technologies Inc. are expected to grow at 8% per year in the future. Carpetto's common stock sells for $27.75 per share,
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1. A manufacturing company has a small production line dedicated to the production of a particular product. The line has four stations in serial. Inputs arrive at station 1 and the
Compare the treatment of mental illness in the medical model, the public health model, and the human service model. Which model provides the best treatment or approach in your opin
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