James and Maddie work for Statesboro Toolworks. Their boss Jenny tells them that she will promote the person who has the best possible forecast for the firm's DG5-S electric tool. Jenny emailed them the demanddata from 10 days worth of sales and then asked each to create a forecast for the next 10 days. The table below shows (1) Actual Demand data (2nd Column), James forecast (3rd column), and Maddie's forecast (4thcolumn). Calculate which of the two has the more accurate forecast. Who gets the promotion? The combatant's forecasts and the actual egg production are shown in the table. Which forecaster was more accurate andshould be hired as a result of his performance on this trial?Day 1Day 2Day 3Day 4Day 5Day 6Day 7Day 8Day 9Day 10Forecast Forecast(James) (Maddie)102102107106 105113115 113109118124119142136130154 148142166 160154181 174167198190182206 202195ActualFinal solution:The person who gets the promotion will be:What is Maddie's MAPE?What is James' MAD and CFE?

MAD is the average of absolute forecasting error values. CFE is the cumulative vaue of error values.…

Answered: James and Maddie work for Statesboro…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter14: Data Mining

Section14.2: Classification Methods

Problem 3P

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