Business, 28.02.2020 04:21 smileyjesse6073
The department manager using a combination of methods has forecast sales of toasters at a local department store. Calculate the MAD, MSE, and MAPE measure of forecast accuracy for the manager's forecast and the naïve forecast. Compare the manager's forecast against a naive forecast covering the same time period. Which forecast method is better given the various measures of forecast?
Month Unit Sales Manager's Forecast Abs. Error Naïve Abs Error
January 52
February 61
March 62
April 55
May 66
June 51
July 57 58
August 58 59
September 61 59
October 62 59
November 63 60
December 63 60
Answers: 2
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Brian has just finished college. he wants to set up a small business to make and sell fireworks. he registers his company and acquires a license from the government. he finds that most of his competitors are selling fireworks at an extremely low price. he would like to make more money, so he decides to innovate and develop better fireworks. he sells his fireworks at a higher price, and they are a huge hit with the customers. after a few years, he earns enough profit to set up a bigger fireworks factory that complies with the government’s health and safety regulations. he even starts exporting fireworks overseas. which type of economy does this scenario describe?
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Business, 23.06.2019 23:30
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The department manager using a combination of methods has forecast sales of toasters at a local depa...
English, 30.10.2020 16:50
English, 30.10.2020 16:50