Please hurry I only have 30 min to ENT 5 (20 points)- Microsoft Edge ourses.pvam

Question

Please hurry I only have 30 min to ENT 5 (20 points)- Microsoft Edge ourses.pvamu.edu/mod/quiz/attempt.php?attempt. 848294&page= 1 eCourses 2018 MGMT5123Z01-1910-10776 sen 2 The actual and forecasted demand (in units) for a product in 11 periods are Actual: 422, 444, 417,396, 442, 417, 422, 450, 379, 420, 471 Forecast 399, 417,438, 422, 402, 433, 421, 422, 444, 394, 414 yet wered rked out of Flag The value of the mean absolute deviation is The value of the mean squared error is The value of the mean absolute percent error is Previous page

Explanation / Answer

For Mean absolute devation and mean squared error, first the error between the actual demand and forecasted demand is calculated for each period.

1. Mean Absolute deviation is the average value of the absolute error summed up for all the periods.

So the absolute value of error for each period is taken and the sum is 330. This total is divided by no. of period to get the deviation value

Mean Absolute deviation = Avg (Sum of Abs Errors) = 330/11 = 30

2. Mean Squared error is the average of summation of error value raised to the power 2 (square value of error)

Mean Squared error = Avg (Sum of Squared Errors) = 13166/11 = 1196.91

3. Mean Absolute Percent error is the average of percentage error in each period.

% error for each period = ABS(Actual demand - Forecast Demand )/Actual Demand *100%

Mean Absolute percent error = Sum of all percent errors/no. of periods = 77.9%/11 = 7.08%

Period Actual Demand (AD) Forecasted Demand (FD) Error (AD- FD) Absolute Error (ABS (AD-FD)) 1 422 399 23 23 2 444 417 27 27 3 417 438 -21 21 4 396 422 -26 26 5 442 402 40 40 6 417 433 -16 16 7 422 421 1 1 8 450 422 28 28 9 379 444 -65 65 10 420 394 26 26 11 471 414 57 57 Summation 74 330

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