QUESTION 9 The following is the actual sales for Manama Company for a particular good: t Sales 19 23 3 22 4 27 5 34 The company wants to determine how accurate their forecasting model, so they asked their modeling expert to build a trend model. He found the model to forecast sales can be expressed by the following model: Ft= 5+2.4t Calculate the amount of error occurred by applying the model is: Hint: Use MSE (Round your answer to 2 decimal places) 1 2
QUESTION 9 The following is the actual sales for Manama Company for a particular good: t Sales 19 23 3 22 4 27 5 34 The company wants to determine how accurate their forecasting model, so they asked their modeling expert to build a trend model. He found the model to forecast sales can be expressed by the following model: Ft= 5+2.4t Calculate the amount of error occurred by applying the model is: Hint: Use MSE (Round your answer to 2 decimal places) 1 2
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.3: Simple Regression Models
Problem 2P: The file P13_02.xlsx contains five years of monthly data on sales (number of units sold) for a...
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![QUESTION 9
The following is the actual sales for Manama Company for a particular good:
t
Sales
1
19
2
23
3
22
4
27
5
34
The company wants to determine how accurate their forecasting model, so they asked their modeling expert to build a trend model. He found the
model to forecast sales can be expressed by the following model: Ft= 5+2.4t
Calculate the amount of error occurred by applying the model is:
Hint: Use MSE
(Round your answer to 2 decimal places)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5a3ef345-81ea-4924-9827-1d9db96640f8%2F7bc5b6dd-fd6f-4370-acd1-06ecfa4a8370%2Fw4ughb9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:QUESTION 9
The following is the actual sales for Manama Company for a particular good:
t
Sales
1
19
2
23
3
22
4
27
5
34
The company wants to determine how accurate their forecasting model, so they asked their modeling expert to build a trend model. He found the
model to forecast sales can be expressed by the following model: Ft= 5+2.4t
Calculate the amount of error occurred by applying the model is:
Hint: Use MSE
(Round your answer to 2 decimal places)
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