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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
The copy center in the College of Business at State University has become an increasingly contentious item among the college administration. Department heads have complained to
A new aircraft control system is being designed that must be 98.0% reliable. This system consists of three components in series. If all three of the components are to have the s
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
It is your first day at ABC Computer Repair and a very angry customer walks into the shop. They instantly start yelling at you and telling you that one of the techs did not do a go
A company is the logistics vendor for B Company. B has daily shipments of a power-steering pump from its Ohio plant to an auto assembly line in Alabama. The value of the standard s
How is capacity management important in the organisation? Capacity management: Capacity management is a procedure which seeks to make sure that the organisation can contr
As the end of the year comes to a close, the CEO is evaluating Motorola's strategic approach and its ability to produce desired results for the company in the future. The CEO has a
a. Assign any value arbitrarily to a row or column variable u or v j . generally a value 0 zero (zero) is assigned to the first row i, e, u = 0. b.Consider every occupied cell
Discuss the strategic importance of layout decisions. How important as these decisions in terms of a company's long-term profitability goals? What are some examples?
Computer Aided Layout Planning This method has 3 steps. They are as follow: Preparation phase, Specification phase and Analysis In the preparation p
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