Math Problem Statement
Evaluate a seasonally adjusted trend forecasting model. What is the MAD? (Round your answers to 3 decimal places.) Period Month-Year Month Sales ($ Million) Trend Index Forecast Absolute Error 1 Jan-2017 1 35,630 2 Feb-2017 2 33,972 3 Mar-2017 3 38,622 4 Apr-2017 4 38,973 5 May-2017 5 40,739 6 Jun-2017 6 40,009 7 Jul-2017 7 39,797 8 Aug-2017 8 41,217 9 Sep-2017 9 41,346 10 Oct-2017 10 41,717 11 Nov-2017 11 40,186 12 Dec-2017 12 40,046 13 Jan-2018 1 39,223 14 Feb-2018 2 37,377 15 Mar-2018 3 42,648 16 Apr-2018 4 43,109 17 May-2018 5 48,049 18 Jun-2018 6 47,546 19 Jul-2018 7 47,991 20 Aug-2018 8 48,833 21 Sep-2018 9 45,585 22 Oct-2018 10 48,342 23 Nov-2018 11 43,239 24 Dec-2018 12 39,626 MAD=
Solution
Ask a new question for Free
By Image
Drop file here or Click Here to upload
Math Problem Analysis
Mathematical Concepts
Seasonal Trend Forecasting
Mean Absolute Deviation (MAD)
Seasonal Indices
Forecasting Error Calculation
Formulas
Absolute Error = |Actual Sales - Forecast|
MAD = (Sum of Absolute Errors) / n
Theorems
Mean Absolute Deviation (MAD) Calculation
Suitable Grade Level
Grades 11-12 or College-level
Related Recommendation
Calculate MAD for Seasonally Adjusted Trend Forecasting Model
Calculating Mean Absolute Deviation (MAD) for Forecast Accuracy
Calculating Mean Absolute Deviation (MAD) in Forecasting
Compute Simple Moving Average Forecasts for Time Series Data
Calculate MAD, MSE, and MAPE for Three-Period Weighted Moving Average Forecast