Page 1. of Month Actual Sales Naive Forecast - Absolute Value of (# of Product X) Sales Errors (# of Product X) 1,860 2,033 Jan/19 Feb/19 Mar/19 Apr/19 3,556 4,211 6,250 May/19 Jun/19 Jul/19 Aug/19...


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Page<br>1.<br>of<br>Month<br>Actual Sales<br>Naive Forecast -<br>Absolute Value of<br>(# of Product X)<br>Sales<br>Errors<br>(# of Product X)<br>1,860<br>2,033<br>Jan/19<br>Feb/19<br>Mar/19<br>Apr/19<br>3,556<br>4,211<br>6,250<br>May/19<br>Jun/19<br>Jul/19<br>Aug/19<br>Sep/19<br>Oct/19<br>Nov/19<br>Dec/19<br>7,990<br>10,250<br>9,850<br>9,980<br>9,990<br>7,895<br>5,353<br>Jan/20<br>a)<br>Explain the calculation method for the Naive Forecast model.<br>If at the end of every month from January/2019 to December/2019, the Sales Manager<br>would have applied the Naive Model, calculate the Naive Forecast values for the months of<br>Febru/2019 and all the way to January/2020. Enter those values on the table above.<br>b)<br>c)<br>Calculate the Absolute Value of Error for every forecasted month, from February/2019 to<br>December/2020. Enter those values on the table above.<br>- Why are there months when the Absolute Value of Error is very low and months when it is<br>gher?<br>- Calculate the Mean Absolute Deviation (MAD), the Mean Squared Error (MSE) and the<br>ean Absolute Percent Error (MAPE) for the Naive Forecast you created for Product X from<br>March/2019 to December/2020 (not from February/2019 to January/2020).<br>d)<br>e)<br>Page 1 of 2<br>MacBook A<br>

Extracted text: Page 1. of Month Actual Sales Naive Forecast - Absolute Value of (# of Product X) Sales Errors (# of Product X) 1,860 2,033 Jan/19 Feb/19 Mar/19 Apr/19 3,556 4,211 6,250 May/19 Jun/19 Jul/19 Aug/19 Sep/19 Oct/19 Nov/19 Dec/19 7,990 10,250 9,850 9,980 9,990 7,895 5,353 Jan/20 a) Explain the calculation method for the Naive Forecast model. If at the end of every month from January/2019 to December/2019, the Sales Manager would have applied the Naive Model, calculate the Naive Forecast values for the months of Febru/2019 and all the way to January/2020. Enter those values on the table above. b) c) Calculate the Absolute Value of Error for every forecasted month, from February/2019 to December/2020. Enter those values on the table above. - Why are there months when the Absolute Value of Error is very low and months when it is gher? - Calculate the Mean Absolute Deviation (MAD), the Mean Squared Error (MSE) and the ean Absolute Percent Error (MAPE) for the Naive Forecast you created for Product X from March/2019 to December/2020 (not from February/2019 to January/2020). d) e) Page 1 of 2 MacBook A

Jun 07, 2022
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