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| Topic: |
Business
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| Number of pages / Number of words: |
4 / 1100 |
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Given the fact that the actual data varies from 147 units to 590 units the forecasts are fairly close to each other.
The forecasts for the 24th period depend on the actual quantities of the last 3, 4 and 5 periods respectively for the 3 period, 4 period and 5 period moving average calculations. However the calculation of the other forecasted quantities enable the determination of the error for each of the three calculations...
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However the calculation of the other forecasted quantities enable the determination of the error for each of the three calculations. Two measures of error are being calculated. One is the Mean Absolute Deviation (MAD) and the other is the Mean Square Error (MSE). While adding the errors of individual periods it is essential to ensure that the positive errors of some periods are not offset by negative errors of other periods...
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Operations Management Principles DB 1
Operations Management Principles DB 2
Operations Management Principles DB 3
Operations Management Principles DB 4
Operations Management Principles DB 5
Operations Management Principles IP 1
Operations Management Principles IP 2
Operations Management Principles IP 3
Operations Management Principles IP 4
Operations Management Principles IP 5
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