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

Your answer

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:

Your answer

UCL to monitor the magnitude of the errors

Your answer

LCL to monitor the magnitude of the errors

Your answer

Are the errors in control?

Yes

No

Cumulative error up to period 2

Your answer

Cumulative error up to period 3

Your answer

Cumulative error up to period 4

Your answer

Cumulative error up to period 5

Your answer

MAD up to period 2

Your answer

MAD up to period 3

Your answer

MAD up to period 4

Your answer

MAD up to period 5

Your answer

Tracking signal of period 2

Your answer

Tracking signal of period 3

Your answer

Tracking signal of period 4

Your answer

Tracking signal of period 5

Your answer

Based on your tracking signals, are the forecasts biased?

Yes

No