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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
Can we solve the problem of crime? How much responsibility does society have? Are our policies enough? What would you do differently, if anything?
Complete the below table. Which one of these techniques would you recommend to use and indicate your rationale. Technique Ave Bias Ave MAD MSE Ave MAPE Naïve 4 Per MA Exp Smooth Th
Should National-Brand Manufacturers Also Supply Private Label Brands? Take a position: Manufacturers should feel free to sell private labels as a source of revenue versus nation
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Practical Application Scenario 2 To complete this scenario, use the Sample Size Estimator file provided in the Resources. The third shift at Microsoft's Windows' security uni
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Value: 15.00 points Problem 3-2 National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows: Month Sales (000) Units Feb. 17 M
1. What are Meditech's problems in introducing new products? In manufacturing ALL products? 2. What is driving these problems, both systematically and organizationally? 3. Wh
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