Compute the bias and mad for each set of forecasts, Operation Management

Assignment Help:

Given the series of demand data below

Period: 1 2 3 4 5 6 7 8 9 10

Demand: 43 31 52 44 23 48 40 39 30 40

Calculated forecasts for periods 7 through 11 using moving average models with n=2, n=4, n=6

Week n=2 n=4 n=6

7 35.4 41.9 40.1

8 44 38.7 39.6

9 39.4 37.4 41

10 34.4 39.2 37.2

11 35 37.2 36.6

Calculate the bias and MAD for each set of forecasts

Moving Average Forecast

n=2 n=4 n=6

Bias _ _ _

MAD _ _ _ 


Related Discussions:- Compute the bias and mad for each set of forecasts

Why babysitters not need technology to compete, Lawyers, babysitters, and c...

Lawyers, babysitters, and construction companys. But why wouldn't they need technology to compete?

Explain minimize the store''s total expected cost, Solve the following prob...

Solve the following problem for the optimal number of clerks: There are approximately 300 customers shopping in Fackert Department Store in Mexico City between 9 a.m. and 5 p.m.

Explain a serial entrepreneur who has previously started, You are an invest...

You are an investor in small businesses, and you have three business plans on your desk. Choose one of the potential business owners listed. Explain why you think that would be the

Explain what do you think are the most important forces, What do you think ...

What do you think are the most important forces in the external environment creating uncertainty for organizations today? Do the forces you identified typically arise in the task e

How team structure related to the project managers authority, How is the pr...

How is the project team structure related to the project manager's authority level?

Capacity planning and control , Analyse a given situation and select a capa...

Analyse a given situation and select a capacity planning and control approach

Explain a typical self-managing team is comprised of, Need these questions ...

Need these questions answered; Have to do a paper on the answers. 1. XYZ, Inc. is making decisions and taking actions with regard to pricing, promotion, and product design of th

Explain maintain its strong brand images, impressive portfolio includes som...

impressive portfolio includes some of the strongest brand names in the world. Additionally, P&G must study its consumers, use long-term perspectives, employ product innovation and

Investment Management Assignment, Prepare an in-depth report recommending t...

Prepare an in-depth report recommending the appropriate investment of AUD$3 million for a five year investment period for a particular investment client. The investment portfolio i

What are the common barriers to team progress, Question 1: W. E. Deming...

Question 1: W. E. Deming is credited with providing the foundation of Japanese Quality and resurgence as an economic power. Deming is the best known quality expert in the worl

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd