MAD & MAPE, Operation Management

Assignment Help:
Sales of vegetable dehydrators at Bud Banis'' discount department store in St. Louis over the past year are shown below. Management prepared a forecast using a combination of exponential smoothing and its collective judgment for the upcoming four months (March, April, May, and June of 2010).

Month 2009-2010 Unit Sales Forecast Managements Forecast

July 100
August 93
September 96
October 110
November 124
December 119
January 92
February 83
March 101 120
April 96 114
May 89 110
June 108 108

(a) Compute MAPE for management''s technique

(b) Do management''s results outperform (ex have smaller MAPE than) a naive forecast?

(c) Which forecast do you recommend, based on lower forecast error?

Related Discussions:- MAD & MAPE

Define effective sharing of knowledge within organization, Given the rate o...

Given the rate of technological change and global market pressures, there is considerable change and uncertainty in many organizations. Organizational value is determined more by

Explain collected information on the number of customers, Rosa's Italian re...

Rosa's Italian restaurant wants to develop forecasts of daily demand for the next week. The restaurant is closed on Mondays and experiences a seasonal pattern for the other six day

Explain compensation as a motivator of behavior, 1. Does your company's com...

1. Does your company's compensation plans help to attract and retain people with the right skills, knowledge and motivation to help the company succeed? Explain.Company;NYC Dept. f

Describe what is the value creation frontier, 1. What is the value creation...

1. What is the value creation frontier? How does each of the four generic business models allow a company to reach this frontier? 2. How can companies' pursuing cost leadership

Explain chemical pollutant, A veterinarian is estimating the degree of asso...

A veterinarian is estimating the degree of association between the exposure/non-exposure of cats to a chemical pollutant and the incidence of a particular respiratory illness among

Explain the building blocks of competitive advantage, Discuss the building ...

Discuss the building blocks of competitive advantage and the role a manager should play in achieving this advantage.

What is the process mapping, What is the process mapping? Process map...

What is the process mapping? Process mapping: For processes to be enhanced they should first be demonstrated. Flow charts can help the use of process mapping as an exampl

Statistical aspects of variability, Statistical Aspects of Variability  ...

Statistical Aspects of Variability  Consider a pharmaceutical process producing paracetamol tablets, for which the weight of the active ingredient (nominally 500 mg per tablet

Find the critical path, Using the information given in the following table:...

Using the information given in the following table: (A) Identify the critical path. (B) Determine expected project duration. Activities Precedes Duration Start a,b,c - a d 5 d f 6

Describe how current laws regarding search and seizure, Discuss how current...

Discuss how current laws regarding search and seizure have the potential to violate the Fourth Amendment. In your response, provide specific examples of how this violation may occu

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