Homework Answers
NOTE-As per Chegg guideline I can solve only one question please post other questions separately.
Answer 14:
| Jack | |||||
| period | Actual demand | jack forecast | Error | Absolute error | |
| 1 | 10 | 14 | 10-14 = -4 | 4 | |
| 2 | 15 | 20 | -5 | 5 | |
| 3 | 25 | 29 | -4 | 4 | |
| MAD=(4+5+4)/3= 13/3 = 4.3 | |||||
| Jane | |||||
| Period | Actual demand | janes forecast | Error | Absolute error | |
| 1 | 55 | 60 | -5 | 5 | |
| 2 | 65 | 75 | -10 | 10 | |
| 3 | 70 | 60 | 10 | 10 | |
| MAD=8.3 |
Based on the forecasts, Jack is better forecaster because the MAD of Jane's forecast is less than MAD of Jane's forecast.
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