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The table below shows the results of two methods (Forecast 1 and Forecast 2) of forecasting for frozen prepared dinners, as well as the demand for the eight periods. PREDICTED DEMAND Period Demand F1 F2 1 68 67 65 2 75 67 66 3 70 73 70 4 74 69 69 5 69 72 72 6 72 66 73 7 80 70 75 8 78 77 81 a. Compare the accuracy of Forecast 1 and Forecast 2 by calculating the Mean Absolute Deviation for each one. Which is more accurate? (Round your answers to 2 decimal places.) MAD F1 MAD F2 appears to be more accurate. b. Compare the accuracy of Forecast 1 and Forecast 2 by calculating the Mean Squared Error for each one. Which is more accurate? (Round your answers to 2 decimal places.) MSE A MSE B appears to be more accurate. c. Managers can use either of these error methods to compare forecasts. In what situation would someone use MAD? MSE? (Hint: MSE goes with control charts; MAD goes with tracking signals). 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. Compare the accuracy of Forecast 1 and Forecast 2 by calculating the Mean Absolute Percent Error for each one. Which is more accurate? (Round your intermediate calculations to 2 decimal places and and final answers to 2 decimal places.) MAPE F1 MAPE F2 appears to be more accurate.
Compute labor productivity under each system. Use carts per worker per hour as the measure of labor productivity. (Round your answers to 2 decimal places.)
The following regression equation estimates the relationship between the number of cups of hot chocolate sold (H) and number of swimmers (N) at the beach: H=252.8-2.05N R^2= 0.45. (2.06) (-3.05) (t values are shown in parentheses) Explain or interpre..
Give a minimum of three examples for each trap based decision. Status-quo trap based decision- Sunk-cost trap based decision- Confirming-evidence trap based decision-
Provide your own analysis of the Deutsche Allgemeinversicherung (DAV) case study, addressing the questions below. Your paper should draw off the learning on this week's discussion threads as well as your other readings, but you need to critically ..
What would be the optimal organizational design for the following situation? Your company typically uses horizontal organization, and you are entering a country where management structures are hierarchical based on entrenched historical and cultural ..
For years, David and Evie Wexler of The Little Guys Home Electronics had many ideas about how to improve the home electronics store in which they were working, but could not put them into action.
Use technology and information resources to research issues related to selected topics. Write clearly and concisely using proper writing mechanics
You work for a U.S. senator, who asks you to draft a bill providing the Federal Communications Commission (FCC) with the authority to seize cellular telephones that are manufactured, sold, or used in violation of federal law.
Please provide your explanation of the text of the Rule stating that evidence must be relevant, and provide the rule number. Please provide the Rule number defining hearsay. What are “writings” and “photographs” according to the Rule? Please also pro..
Trickle of Jobs Returning to U.S. Shores Could Soon Become a Torrent" and The Benefits of Outsourcing Finance and Accounting.
What is the manufacturer's markup percentage? _______________________, What is the retailer's markup in dollars?______________________________.
It has been said that Earned Value Management (EVM) came about because the Federal Government often used “Cost plus” contractors with project organizations. Cost plus contracting allows the contractor to recover full project development costs plus ac..
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