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please Help with these calculations. I have no idea how to do them. Thank you
Modet Take the actual demand lor the same month last year and divide that by s used as the weelly forecast for the same month this year. This technique was used to forecast eight weeks for this year, which are shown below along with the actual demand that oocumed The foilewing eight weeks show the forecast (ased on last year) and he demand that actualy oooumed FORECASTACTUAL WEEK DEMAND DEMAND 2 155 130 140 202 Comple the MAD offorecast enors. CRound your answers to 2 decimal places.) Weak MAD 眦 5眦 眦 眦 b. Using the RSFE congule the tracking signal (Round your answers to 2 decimal places Negative valuas should be indicabed by a minus sign Wmk Tracking n/t
Expert Answer
a. Table for calculation of MAD is given below.
MAD = sum of [( xi-xbar)] / n
Where xi is the value for any period ( i=1 to n) where n is the total no. of samples
Xbar is the average of all x values
| MAD for forecast errors | |||||||||
| Xbar | |||||||||
| Period | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | |
| ForecastValue | 155 | 155 | 130 | 132 | 132 | 142 | 152 | 140 | |
| Actual value | 152 | 148 | 147 | 157 | 177 | 187 | 182 | 202 | |
| Error of forecast X | 3 | 7 | 17 | 25 | 45 | 45 | 30 | 62 | 29.25 |
| [Xi – Xbar] | 26.25 | 22.25 | 12.25 | 4.25 | 15.75 | 15.75 | 0.75 | 32.75 | sum = 130 |
| MAD | 16.25 | ||||||||
b. Tracking signal = [ xi-xbar] /MAD = 130/16.25 =8
