Statistics Solutions

Solution: The actual demand for week 6 is a follows: Monday=723, Tuesday=677, Wednesday=521, Thursday=571, Friday=498. Comparing each of your forecasts

Question: The actual demand for week 6 is a follows: Monday=723, Tuesday=677, Wednesday=521, Thursday=571, Friday=498.

  1. Comparing each of your forecasts to the actual values for week six, calculate the mean absolute deviation (MAD) for each of the five forecasts types: Naïve, daily average, moving average, exponential smoothing, and linear regression.
  2. Rank your five forecasts from most to least accurate according to the MAD for each.
  3. For this type of problem which forecasting technique would be generally most accurate? Why?

Price: $2.99
Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document


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