QuickHelper

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About QuickHelper

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Teaching Since: May 2017
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  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

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  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Business & Finance Posted 12 Jun 2017 My Price 10.00

supply chain forecast accuracy

Question description

 

 

Your company released a new product in August this year.  Prior to August, you asked two experts at the company, Katelyn and Christopher, for their forecasted sales of the new product.   Katelyn forecasted that week 1 would be 5,000 units and sales would increase by 1,000 units each week for the first 12 weeks.  Christopher forecasted that week 1 would be 7,000 units and sales would increase by 500 units each week for the first 12 weeks.  The product has been on the market for 6 weeks and below is the actual units sold.

Week

Actual Sales (units)

1

4,900

2

7,200

3

6,800

4

6,300

5

9,100

6

9,500

 

a)  Calculate the MFE for each expert’s forecast (2 points).

b)  Calculate the MAPE for each expert’s forecast (2 points).

c)  Which expert had the better forecast and why? (2 points).

 

Answers

QuickHelper
(10)
Status NEW Posted 12 Jun 2017 08:06 PM My Price 10.00

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