The demand for a product for the last six years has been 15, 15, 17, 18, 20, and 19. the manager wants to predict the demand for this time series using the following simple linear trend equation: trt = 12 + 2t. what are the forecast errors for the 5th and 6th years?

Answer and explanation:

Given : The demand for a product for the last six years has been 15, 15, 17, 18, 20, and 19. The manager wants to predict the demand for this time series using the following simple linear trend equation :

To find : What are the forecast errors for the 5th and 6th years?

Solution :

Data : 15, 15, 17, 18, 20, and 19.

The simple linear trend equation is given as,

For t = 5 years

Observed

Predicted

Forecast error = Observed – Predicted = 20 – 22 = -2

Absolute forecast error = |-2| = 2 .

For t = 6 years

Observed

Predicted

Forecast error = Observed – Predicted = 19 – 24 = -5

Absolute forecast error = |-5| = 5.

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step-by-step explanation:

i think u have 12 apples sorry again i don't really know if it correct i'm just tryna hrlp people out.