Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months. The forecasts and actual sales are as follows: Month 1 2 3 4 8 9 10 Sales Forecast 1 771 770 790 788 798 774 794 776 Forecast Method 11 Method 2 772 770 761 774 792 794 771 769 765 777 794 791 a. Compute a tracking signal for the 10th month for each forecast using the cumulative error for months 1 to 10. Use action limits of ± 4. Is there bias present? (Do not round your intermediate calculations. Round your answers to 2 decimal places. Negative amounts should be indicated by a minus sign.) Forecast 2 768 787 798 773 773 770 764 778 792 791 Tracking Signal Bias
Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months. The forecasts and actual sales are as follows: Month 1 2 3 4 8 9 10 Sales Forecast 1 771 770 790 788 798 774 794 776 Forecast Method 11 Method 2 772 770 761 774 792 794 771 769 765 777 794 791 a. Compute a tracking signal for the 10th month for each forecast using the cumulative error for months 1 to 10. Use action limits of ± 4. Is there bias present? (Do not round your intermediate calculations. Round your answers to 2 decimal places. Negative amounts should be indicated by a minus sign.) Forecast 2 768 787 798 773 773 770 764 778 792 791 Tracking Signal Bias
Contemporary Marketing
18th Edition
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Louis E. Boone, David L. Kurtz
Chapter14: Pricing Strategies
Section14.2: Forecasting Demand
Problem 1LO
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