BADM 425 Problem 3
BADM 425 -- Problem Assignment #3
Forecasting 2 (20 pts.)
Due: by 11:59 (CT) 09/30/13
Complete the following problem and submit the file to the appropriate D2L drop box for this assignment in the original MS Word format. You must show me your work (computations) in this document in order to earn the credit – using Word’s equation editor, tables, or spreadsheet might be best. Handwriting on the screen or uploading a photo of handwritten work is unacceptable. I expect you to use the editing capabilities of MS Word to complete this problem. You may copy and paste any work done using other software into this document. Simply listing a couple of numbers is not acceptable -- I must be able to evaluate your responses. Do not change the filename (425Problem3.docx) when you save or submit the file to the dropbox -- D2L will add your name to the filename when I download the files.
A convenience store posted the following figures for gasoline sales in gallons over the past 4 days compared to its forecasted sales using two different forecast methods:
DAY ACTUAL SALES FORECAST 1 FORECAST 2
1 580 610 570
2 620 620 625
3 550 600 560
4 610 590 615
Using MAPE as the accuracy measure, which forecast is “best”. You must show your work.
11 years ago
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- badm_425_problem_3-solution.docx