Use this table to answer the following question:
$\begin{array} { | c | c | }
\hline \text { Period } & \text { Demand } \
\hline 1 & 173 \
\hline 2 & 177 \
\hline 3 & 180 \
\hline 4 & 151 \
\hline 5 & 168 \
\hline 6 & 184 \
\hline 7 & 198 \
\hline 8 & 191 \
\hline 9 & 167 \
\hline 10 & 177 \
\hline
\end{array}$
-Calculate the MSE for this Table if the forecasts for periods 1-10 are in order, 176.6, 174.2, 176.1, 178.7, 160.4, 165.4, 177.7, 191.1, 191.0, and 175.2.
A) 216.60
B) 219.80
C) 210.40
D) 221.20

Question

Use this table to answer the following question: 
$\begin{array} { | c | c | } 
\hline \text { Period } & \text { Demand } \
\hline 1 & 173 \
\hline 2 & 177 \
\hline 3 & 180 \
\hline 4 & 151 \
\hline 5 & 168 \
\hline 6 & 184 \
\hline 7 & 198 \
\hline 8 & 191 \
\hline 9 & 167 \
\hline 10 & 177 \
\hline
\end{array}$
-Calculate the MSE for this Table if the forecasts for periods 1-10 are in order, 176.6, 174.2, 176.1, 178.7, 160.4, 165.4, 177.7, 191.1, 191.0, and 175.2.
A) 216.60
B) 219.80
C) 210.40
D) 221.20

Quizplus · Accepted Answer

MSE (Mean Squared Error) is calculated by squaring the difference between the actual demand and the forecast demand for each period, adding up those squares, and dividing by the number of periods.

So, using the given forecasts and demand values, we can calculate the MSE as follows:

MSE = [(173-176.6)^2 + (177-174.2)^2 + (180-176.1)^2 + (151-178.7)^2 + (168-160.4)^2 + (184-165.4)^2 + (198-177.7)^2 + (191-191.1)^2 + (167-191)^2 + (177-175.2)^2]/10

MSE = 219.80

Therefore, the closest answer choice to that value is B: 219.80.

Use This Table to Answer the Following Question -Calculate the MSE for This Table If the Forecasts for |