Calculating mean absolute percentage error requires dividing the forecast error by the actual result for a...
Calculating mean absolute percentage error requires dividing the forecast error by the actual result for a period.
Homework Answers
Question:
Calculating mean absolute percentage error requires dividing the forecast error by the actual result for a period.
Answer:
Correct option:
True.
The Mean Absolute Percentage Error (MAPE) is the average of the Absolute Percentage Errors (APE) and is calculated as follows:
where
A = Actual result for a period
F = Forecast for a period
N = Number of observations
Add Answer to:
Calculating mean absolute percentage error requires dividing the
forecast error by the actual result for a...
1. Calculate mean absolute deviation (MAD), mean absolute percent error (MAPE), and tracking signal (TS) based...
1. Calculate mean absolute deviation (MAD), mean absolute percent error (MAPE), and tracking signal (TS) based on below information. MAD Period Error Absolute Error 1 lor 2 3 4 5 Demand 155 145 160 151 143 Forecast 130 155 145 160 151 MAD= MAPE Period 1 2 3 4 5 Demand 155 145 160 151 143 Forecast 130 155 145 160 151 Ave Demand MAPE=
When measuring forecast accuracy, MSE emphasizes larger errors by A. Doubling the error B. Dividing by...
When measuring forecast accuracy, MSE emphasizes larger errors by A. Doubling the error B. Dividing by the number of periods C. Using the absolute value of the error D. Squaring the error
2. For each of the months March through June, determine the 3-month forecast error rate, defined...
2. For each of the months March through June, determine the 3-month forecast error rate, defined as 1 minus the absolute percentage error. For example, the forecast error rate for March's sales is found by dividing the absolute value of the forecast error for this month by the actual sales volume for the month. The forecast error for any month (e.g., March) is defined as the difference between the actual sales volume for the month and the sales volume for...
Please solve for the standard deviation step by step. Calculating Forecast Error Measures The following table...
Please solve for the standard deviation step by
step.
Calculating Forecast Error Measures The following table shows the actual sales of upholstered chairs for a furniture manufacturer and the forecasts made for each of the last 8 months. Calculate CFE, MSE, a, MAD, and MAPE for this product Month, Demand, D Forecast Error E Error, Squared, E Absolute Error, Absolute Percent Error, (END(100) 200 225 -25 625 25 12.5% 2 240 220 20 400 20 8.3 3 300 285 15...
Question 30 (1 point) What will be the MAPE (Mean Absolute Percent Error) of the table...
Question 30 (1 point) What will be the MAPE (Mean Absolute Percent Error) of the table below? (Round your answer to 2 decimal places, keep in decimal format) Three period moving average Period Sales($millions) Forecast Error Absolute Error Squared Error Abs Percent error 1 7 2 5 3 9 4 11 7.00 8.33 5 13.5 Your Answer: Answer uestion 31 (1 point) Saved
pleasw reply fast for a thumbs up?? Question 3 (1 point) Absolute Error Percent error Squared...
pleasw reply fast for a thumbs up??
Question 3 (1 point) Absolute Error Percent error Squared error Naive Period Sales($millions) Forecast Error 13.2 2 19.3 3 14.9 4 11.5 Using the Naive forecast, what will be the MAD (Mean Absolute Deviation) in the table above? (Round your answer to 2 decimal places) Your Answer: Answer Question 4 (1 point) The Absolute percent error for period 4 when Three period moving average forecast method is used:(Please round to 2 decimal places...
A company has the data shown in the chart below concerning its forecast performance over the...
A company has the data shown in the chart below concerning its forecast performance over the past five time periods. Period Actual Demand Forecast Demand Error Absolute Value of Error Absolute Percentage Error 1 345 320 25 2 320 10 3 335 350 4 340 -30 5 350 20 Calculate the running sum of forecast error (RSFE).
Question 17 (1 point) What will be the MAPE (Mean Absolute Percent Error) of the table...
Question 17 (1 point) What will be the MAPE (Mean Absolute Percent Error) of the table below? (Round your answer to 2 decimal places, keep in decimal format) 6 Three period moving average Period sales(Smillions) Forecast Error Absolute Error Squared Error Abs Percent error 1 7 2 5 3 9 11 7.00 5 15.3 8.33 4 Your Answer: Answer Question 18 (1 point) Consider the following payoff table: DA: Decision Alternative. State of Nature Decision Alternative Good Bad Probabilities 0.4...
FORECAST ACTUAL 1,470 1,520 1,370 1,470 1,670 1,570 1,720 1,620 1,770 1,670 a. Compute the tracking...
FORECAST ACTUAL 1,470 1,520 1,370 1,470 1,670 1,570 1,720 1,620 1,770 1,670 a. Compute the tracking signal using the mean absolute deviation and running sum of forecast errors. (Negative values should be indicated by a minus sign. Round your "Mean Absolute Deviation", "Tracking Signal" to 2 decimal places and all other answers to the nearest whole number.) Period Forecast Actual Deviation RSFE Absolute Deviation Sum of Absolute Deviation MAD TS 1 1,470 1,520 2 1,370 1,470 3 1,670 1,570 4...
[18-22The following table shows monthly actual and forecast air passenger demand on Stockton Airlines ACTUAL FORECAST...
[18-22The following table shows monthly actual and forecast air passenger demand on Stockton Airlines ACTUAL FORECAST ERROR RSFE MAD 180 TIME PERIOD Jan Feb Mar Apr 2 7 210 130 190 NA 2 30 2 2 NA TRACKING SIGNAL -10 2 ? NA 2 2 NA NA Using exponential smoothing (0.5) what will be the air passenger demand in April? O A 16725 8.171.25 c. 17425 0.17625 QUESTION 19 25 points In March, what is the running sum of the...
1. Calculate mean absolute deviation (MAD), mean absolute percent error (MAPE), and tracking signal (TS) based on below information. MAD Period Error Absolute Error 1 lor 2 3 4 5 Demand 155 145 160 151 143 Forecast 130 155 145 160 151 MAD= MAPE Period 1 2 3 4 5 Demand 155 145 160 151 143 Forecast 130 155 145 160 151 Ave Demand MAPE=
2. For each of the months March through June, determine the 3-month forecast error rate, defined as 1 minus the absolute percentage error. For example, the forecast error rate for March's sales is found by dividing the absolute value of the forecast error for this month by the actual sales volume for the month. The forecast error for any month (e.g., March) is defined as the difference between the actual sales volume for the month and the sales volume for...
Please solve for the standard deviation step by
step.
Calculating Forecast Error Measures The following table shows the actual sales of upholstered chairs for a furniture manufacturer and the forecasts made for each of the last 8 months. Calculate CFE, MSE, a, MAD, and MAPE for this product Month, Demand, D Forecast Error E Error, Squared, E Absolute Error, Absolute Percent Error, (END(100) 200 225 -25 625 25 12.5% 2 240 220 20 400 20 8.3 3 300 285 15...
Question 30 (1 point) What will be the MAPE (Mean Absolute Percent Error) of the table below? (Round your answer to 2 decimal places, keep in decimal format) Three period moving average Period Sales($millions) Forecast Error Absolute Error Squared Error Abs Percent error 1 7 2 5 3 9 4 11 7.00 8.33 5 13.5 Your Answer: Answer uestion 31 (1 point) Saved
pleasw reply fast for a thumbs up??
Question 3 (1 point) Absolute Error Percent error Squared error Naive Period Sales($millions) Forecast Error 13.2 2 19.3 3 14.9 4 11.5 Using the Naive forecast, what will be the MAD (Mean Absolute Deviation) in the table above? (Round your answer to 2 decimal places) Your Answer: Answer Question 4 (1 point) The Absolute percent error for period 4 when Three period moving average forecast method is used:(Please round to 2 decimal places...
Question 17 (1 point) What will be the MAPE (Mean Absolute Percent Error) of the table below? (Round your answer to 2 decimal places, keep in decimal format) 6 Three period moving average Period sales(Smillions) Forecast Error Absolute Error Squared Error Abs Percent error 1 7 2 5 3 9 11 7.00 5 15.3 8.33 4 Your Answer: Answer Question 18 (1 point) Consider the following payoff table: DA: Decision Alternative. State of Nature Decision Alternative Good Bad Probabilities 0.4...
[18-22The following table shows monthly actual and forecast air passenger demand on Stockton Airlines ACTUAL FORECAST ERROR RSFE MAD 180 TIME PERIOD Jan Feb Mar Apr 2 7 210 130 190 NA 2 30 2 2 NA TRACKING SIGNAL -10 2 ? NA 2 2 NA NA Using exponential smoothing (0.5) what will be the air passenger demand in April? O A 16725 8.171.25 c. 17425 0.17625 QUESTION 19 25 points In March, what is the running sum of the...
Most questions answered within 3 hours.
-
A combustion reaction is describes as a carbon source reacting
with oxygen and producing carbon dioxide...
asked 5 minutes ago -
Buckminsterfullerence is a recently allotrope of carbon in which
carbon atoms form molecules of formula C_60,...
asked 7 minutes ago -
Lower Equitorial and Upper Equitorial are the same except Lower
Equitorial has a larger capital stock....
asked 12 minutes ago -
how do you think that pH of a jar where you have added a certain
amount...
asked 22 minutes ago -
If the Federal Reserve increases the reserve requirement, what
will happen to the Money Supply in...
asked 17 minutes ago -
Suppose that market demand for a good is given by Q = 9 - 0.3 P...
asked 24 minutes ago -
two thin lenses are separated by a distance x. The first lens
has a focal length...
asked 25 minutes ago -
The computer that controls a bank's automatic teller machine
crashes a mean of 0.6 times per...
asked 29 minutes ago -
`1) How is -9 (base 10) represented in 8-bit two's complement
notation?
a) 00001001
b)11110111
c)11110110...
asked 38 minutes ago -
A 10.000 g sample of water contains 11.19% H by mass. what
should be the %H...
asked 56 minutes ago -
Consider an investment game among 2 players. Each player can
either invest,
i, or not invest,-i....
asked 53 minutes ago -
The time taken to complete a particular task is normally
distributed with a standard deviation of...
asked 1 hour ago