# Consider the following data. We want to monitor the forecasts. Period.Demand.Forecasts .

Consider the following data. We want to monitor the forecasts.

Period…………..Demand…………Forecasts

……1……………….263………………..–

……2……………….252………………..263

……3……………….289………………..252

……4……………….287………………..289

……5……………….307………………..287

Calculate the UCL and LCL for the appropriate control chart?

Calculate the cumulative error, MAD, and tracking signals.

Error of period 2

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Error of period 3

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Error of period 4

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Error of period 5

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Overal MSE:

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UCL to monitor the magnitude of the errors

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LCL to monitor the magnitude of the errors

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Are the errors in control?

Yes

No

Cumulative error up to period 2

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Cumulative error up to period 3

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Cumulative error up to period 4

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Cumulative error up to period 5

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MAD up to period 2

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MAD up to period 3

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MAD up to period 4

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MAD up to period 5

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Tracking signal of period 2

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Tracking signal of period 3

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Tracking signal of period 4

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Tracking signal of period 5

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Based on your tracking signals, are the forecasts biased?

Yes

No