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Month Actual Sales Naive Forecast - Absolute Value of (# of Product X) Sales Errors (# of Product X) 1,860 Jan/19 Feb/19 Mar/19 2,033 3,556 Apr/19 May/19 Jun/19 Jul/19 Aug/19 Sep/19 Oct/19 Nov/19 Dec/19 Jan/20 4,211 6,250 7,990 10,250 9,850 9,980 9,990 7,895 5,353 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 Februany/2019 and all the way to January/2020. Enter those values on the table above. a) 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? d) - Calculate the Mean Absolute Deviation (MAD), the Mean Squared Error (MSE) and the e) edn 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).

Month Actual Sales Naive Forecast - Absolute Value of (# of Product X) Sales Errors (# of Product X) 1,860 Jan/19 Feb/19 Mar/19 2,033 3,556 Apr/19 May/19 Jun/19 Jul/19 Aug/19 Sep/19 Oct/19 Nov/19 Dec/19 Jan/20 4,211 6,250 7,990 10,250 9,850 9,980 9,990 7,895 5,353 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 Februany/2019 and all the way to January/2020. Enter those values on the table above. a) 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? d) - Calculate the Mean Absolute Deviation (MAD), the Mean Squared Error (MSE) and the e) edn 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).

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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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
Transcribed Image 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
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