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Home / Questions / Sales of quilt covers at Bud Banis’s department store in Carbondale over the past year are shown...

Sales of quilt covers at Bud Banis’s department store in Carbondale over the past year are shown...

Sales of quilt covers at Bud Banis’s department store in Carbondale over the past year are shown below. Management prepared a forecast using a combination of exponential smoothing and its collective judgment for the 4 months (March, April, May, and June):

a) Compute MAD and MAPE for management’s technique.

b) Do management’s results outperform (i.e., have smaller MAD and MAPE than) a naive forecast?

c) Which forecast do you recommend, based on lower forecast error?

 

Jul 31 2020 View more View Less

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