Question
In: Operations Management
Daily high temperatures in St. Louis for the last week were as follows: 9292, 9494, 9393,...
Daily high temperatures in St. Louis for the last week were as follows:
9292,
9494,
9393,
9595,
9797,
9090,
9393
(yesterday).
a) The high temperature for today using a 3-day moving average =
93.3393.33
degrees (round your response to one decimal place).
b) The high temperature for today using a 2-day moving average =
91.591.5
degrees (round your response to one decimal place).
c) The mean absolute deviation based on a 2-day moving average =
nothing
degrees (round your response to one decimal place).
d) The mean squared error for the 2-day moving average =
nothing
degrees squareddegrees2
(round your response to one decimal place).
e) The mean absolute percent error (MAPE) for the 2-day moving average =
nothing%
(round your response to one decimal
place).
Solutions
Expert Solution
We will use below formulas:
Forecast (3 month moving average) = (Sum of values for last 3 months)/3
Forecast (2 month moving average) = (Sum of values for last 2 months)/2
Error or Deviation = Actual - Forecast
Mean Absolute Deviation(MAD) = Summation | Actual - Forecast|/ n
Mean Squared Error (MSE) = Summation | Actual - Forecast|2 / n
Mean absolute percent error (MAPE) = Summation (|Error|/ Actual)/ n
All calculations are shown in below Excel screenshot.
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Thank you!
keosha answered 5 days agoRelated Solutions
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