PROBLEM BASED SOLUTIONS 3

Question 2

Formula for getting error (3) is

Error (3) = Actual (3) – Forecast (3)

=85-73.6

= 11.4

The answer for (e) is 10.47, it is found as follows

Formula for getting MAD (3) is

MAD (3) = [MAD(0)+MAD(1)+MAD(2)]/3

=[10.37+10.8+10.24]/3

=10.47

The answer for (f) is 2.81, it is found as follows

Formula for getting TS (3) is

TS (3) = RSFE/MAD

RSFE (3) = 10+8+11.40 = 29.4

MAD = 10.47

=29.4/10.47

= 2.81