Assignment:
A forecasting model has produced the following forecasts:
|
Period
|
Demand
|
Forecast
|
Error
|
Abs.Error
|
|
January
|
120
|
110
|
|
|
|
February
|
110
|
115
|
|
|
|
March
|
115
|
120
|
|
|
|
April
|
125
|
115
|
|
|
Fill in the blanks above
- Calculate the mean absolute deviation (MAD) at the end of April.
- Calculate the average error at the end of April.
- Calculate the tracking signal at the end of April.
Provide complete and step by step solution for the question and show calculations and use formulas.