vas.unf.edu/courses/28281/quizzes/ take Time Series Decomposition for TransSales
ID: 3053094 • Letter: V
Question
vas.unf.edu/courses/28281/quizzes/ take Time Series Decomposition for TransSales Method Model type Multiplicative Model Data TrensSales 1000 Length 24 Time Series Decomposition for TransSales1000 Method Model type Multiplicative Model Fitted Trend Equation Accuracy Measures MAPE 3.911 MAD 13.336 306.975.030t Seasonal Indices Period Index 10.59424 2 109257 3 164660 4 0.66659 MSD 348.716 Forecasts Period Forecast 25 257.135 Time Series Decomposition Plot for TransSales Multiplicative Model Quarterly Data, Years 2010-2016 Managers used data from a logistics firm to forecast quarterly sales revenues TranSale(1000's) for a large firm. Some quarters, sales are quite low due to difficult driving conditions in treacherous snow covered passes high above 4000m. They found a multiplicative with trend time series decomposition model fit best, the results are shown above. Using the results above interpret MAPE for Predicted TranSale1000. O The forecast misses the actual sales by an average of 3,900 dollars O Forecast error is 3.9 percent of assignable variation The forecast misses actual sales by an average of 3.9 percent. O The forecast over estimates actual sales by 348.000 dollars.Explanation / Answer
Correct option is (c)
The forecast misses the actual sales by an average of 3.9%.
Since, we know that MAPE measure the size of error in percentage and error is the difference between the actual values and forecast values.
Therefore, it can be concluded that option (c) is correct as it states that the MAPE depicts that forecast misses actual sale by 3.9%.
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