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In: Operations Management

CALCULATE THE MAD, MSE, AND MAPE ERRORS FOR THE FOLLOWING DATA. SHOW WORK TO RECEIVE CREDIT....

CALCULATE THE MAD, MSE, AND MAPE ERRORS FOR THE FOLLOWING DATA. SHOW WORK TO RECEIVE CREDIT. Period Demand FORECASTED 1 940 938 2 946 948 3 942 944 4 946 943 5 950 948 6 955 957

Solutions

Expert Solution

Calculations for period 1

Error = Actual Demand - Forecast

Error = 940-938 = 2

| Error | = 2

Error Square = | Error | * | Error | = 2*2 = 4

| % Error | = |Error|/Demand *100%

| % Error | = 2/ 940 *100% = 0.2127%

Calculations for period 2

Error = Actual Demand - Forecast

Error = 946-948 = -2

| Error | = | -2 | = 2

Error Square = | Error | * | Error | = 2*2 = 4

| % Error | = |Error|/Demand *100%

| % Error | = 2/ 946*100% = 0.2114%

Calculations for period 3

Error = Actual Demand - Forecast

Error = 942-944 = -2

| Error | = | -2 | = 2

Error Square = | Error | * | Error | = 2*2 = 4

| % Error | = |Error|/Demand *100%

| % Error | = 2/ 942*100% = 0.2123%

Calculations for period 4

Error = Actual Demand - Forecast

Error = 946-943 = -3

| Error | = | 3 | = 3

Error Square = | Error | * | Error | = 3*3 = 9

| % Error | = |Error|/Demand *100%

| % Error | = 3/ 946*100% = 0.3171%

Calculations for period 5

Error = Actual Demand - Forecast

Error = 950-948 = 2

| Error | = 2

Error Square = | Error | * | Error | = 2*2 = 4

| % Error | = |Error|/Demand *100%

| % Error | = 2/ 950 *100% = 0.2105%

Calculations for period 6

Error = Actual Demand - Forecast

Error = 955-957 = -2

| Error |= | -2 | = 2

Error Square = | Error | * | Error | = 2*2 = 4

| % Error | = |Error|/Demand *100%

| % Error | = 2/ 955 *100% = 0.2094%

All above calculations summaarised belowin table:

Period	Demand	Forecast	Error	\| Error \|	Error square	\| % Error \|
1	940	938	2	2	4	0.2127%
2	946	948	-2	2	4	0.2114%
3	942	944	-2	2	4	0.2123%
4	946	943	3	3	9	0.3171%
5	950	948	2	2	4	0.2105%
6	955	957	-2	2	4	0.2094%

Mean Absolute Deviation (MAD) =

Mean Absolute Deviation (MAD) = (2+2+2+3+2+2)/6

Mean Absolute Deviation (MAD) = 13/6

Mean Absolute Deviation (MAD) = 2.1667

Mean Square Error (MSE) =

Mean Square Error (MSE)= (4+4+4+9+4+4)/6

Mean Square Error (MSE)= 29/6

Mean Square Error (MSE)= 4.8333

Mean Absolute Percent Error (MAPE) =

Mean Absolute Percent Error (MAPE) = (0.2127% + 0.2114% + 0.2123% + 0.3171% + 0.2105% + 0.2094%)/ 6

Mean Absolute Percent Error (MAPE) = 1.3734%/6

Mean Absolute Percent Error (MAPE) = 0.2289 %

keosha answered 1 year ago

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