A manager has just received an evaluation from an analyst on two potential forecasting alternatives. The...
A manager has just received an evaluation from an analyst on two potential forecasting alternatives. The analyst is indifferent between the two alternatives, saying that they should be equally effective.
Period: 1 2 3 4 5 6 7 8 9 10
Data 37 39 38 39 45 45 47 47 51 52
Alt. 1 36 38 40 42 46 46 46 48 52 55
Alt. 2 36 37 38 38 41 52 47 48 52 53
What is the MAD of Alt?
A.) 1.
B.) 1.0
C.) 1.2
D.) 1.5
E.) 1.6
Homework Answers
D) 1.5
MAD(Mean Absolute Deviation) = Sum of absolute deviation/Number of periods
= (1 + 1 + 2 + 3 + 1 + 1 + 1 + 1 + 1 +3)/10
= 15/10
= 1.5
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