Tutorial 3

Tutorial 3 - bottled water. Actual demand and the two sets...

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The German University in Cairo (GUC) Spring 2012 Faculty of Management Technology Dr. Sherwat Elwan Operations Management Department OPER602 7. Freight car loadings over a 12-year period at a busy port are as follows:  a. Determine a linear trend line for freight car loadings.  b. Use the trend equation to predict loadings for weeks 20 and 21.  c. The manager intends to install new equipment when the volume exceeds 800 loadings per  week. Assuming the current trend continues, the loading volume will reach that level in  approximately what week? 26. Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of 
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Unformatted text preview: bottled water. Actual demand and the two sets of forecasts are as follows: a. Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? Explain. b. Compute the MSE for each set of forecasts. Given your results, which forecast appears to be more accurate? c. In practice, either MAD or MSE would be employed to compute forecast errors. What factors might lead a manager to choose one rather than the other? d. Compute MAPE for each data set. Which forecast appears to be more accurate? Tutorial 3 Week (10/3/2012 – 15/3/2012) Subject Forecasting...
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This note was uploaded on 03/19/2012 for the course ECON 602 taught by Professor Mohamed during the Spring '12 term at Manor.

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