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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.
Korey is a business student at State U. She has just completed a course in decision models, which had a midterm exam, a final exam, individual assignments, and class participation. The participation weight can be no more than 15%. The midterm weight ..
What is the appropriate marketing strategies for the Memorial Sloan Kettering Cancer Centerof NY. Consider the organization’s lifecyle and marketplace lifecyle and make a recommendation on an appropriate strategy.
SW Airlines is one of the most successful airlines in the United States. Much of its success is related to its special culture that focuses on the individual and on both leader and leadership development. Current and past executives are all highly co..
Discuss participant consumption behavior. Describe why sports marketers would need to understand this type of behavior.
Research indicates that many employees who have input into job design and who are given greater responsibility frequently show far greater motivation. These innovative ideas are considered forms of employee empowerment.
What are the essential elements of Lean thinking? What are the essential elements of Six Sigma analysis activities? Please be certain to highlight and compare the differences and similarities between the two concepts.
Explain the Difference between a defined retirement plan and a contributory plan. Do you participate in either or both of these plans with your employer?
Write a detailed report of your analytical findings and strategic issues from your analysis of the industry environment for PROCTOR & GAMBLE. Explain that this analysis focuses on the strategic elements of industry environment and concerns or opportu..
In the context of the solution-focused approach, describe/assess several observable indicators that would cue you that the family is nearing a level of success, such that termination of therapy may be considered.
Most colleges and universities do strategic planning. Institutions are consciously and systematically identifying and evaluating external opportunities and threats facing higher education in your state, the nation, and the world.
In each the following pairings, indicate which firm would probably have a longer credit period and explain your reasoning. Respond to only one pairing.
Describe web-based human resources information systems (HRIS) you are familiar with. Based on your own experiences and internet research, evaluate the advantages and disadvantages of employees using a web-based HRIS. What HRIS services are most conve..
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