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Given The Following Data, Compute The Tracking Signal and Decide Whether or Not The Forecast Should Be Reviewed
Given The Following Data, Compute The Tracking Signal and Decide Whether or Not The Forecast Should Be Reviewed
Forecast Error =
RSFE = -2
Actual Forecast =
8 -10 = -2
Forecast Error =
Actual Forecast =
RSFE = -2 + 1
= -1
11 -10 = 1
Forecast Error =
Actual Forecast =
RSFE = -1 + 2
= 1
12 -10 = 2
Forecast Error =
Actual Forecast =
14 -10 = 4
RSFE = 1 + 4
= 5
Absolute Error =
Absolute (Actual Forecast) =
MAD = 2
TS = RSFE/MAD
= -2/2 = -1
Absolute(8 -10) = 2
Absolute Error =
Absolute (Actual Forecast) =
MAD = (2+1)/2
= 1.5
TS = RSFE/MAD
= -1/1.5 = -0.67
Absolute(11 -10) = 1
Absolute Error =
Absolute (Actual Forecast) =
MAD = (2+1+2)/3
= 1.67
TS = RSFE/MAD
= 1/1.67 = 0.6
Absolute(12 -10) = 2
Absolute Error =
Absolute (Actual Forecast) =
Absolute(14 -10) = 4
TS = RSFE/MAD
MAD = (2+1+2+4)/4
= 5/2.25 = 2.22
= 2.25
10