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Question: 1 5 calculate a mad and bias based on the...

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1 5. Calculate a MAD and Bias based on the last 12 periods of known data. What do the MAD and bias indicate about your model? Year Qtr Period ReveueSeasonality-adjusted forecast ErrorActual forecast Errorl 2485 2617 2719 2689 2590 2586 2570 2579 2517 2585 2594 2647 2574 2737 2759 2947 2716 2988 3113 3359 3007 3264 3318 3630 1999 Q1 Q2 Q3 2280.38 2441.59 2519.03 2669.75 2408.3 2576.67 2656.49 2813.48 2536.23 2711.74 2793.95 2957.2 2000Q1 Q2 Q4 2001 Q1 Q2 Q4 90.16 109.82 172.41 153.92 -76.08 90.16 109.82 172.41 153.92 76.08 2846.82 2931.41 3100.92 2792.08 2981.9 3068.87 244.65 2920.01 3116,97 3206.33 3388.37 Q4 21 23 24 25 26 27 28 29 30 44.13 114.35 86.99 147.03 111.67 241.63 12.46 44.13 114.35 86.99 147.03 111.67 241.63 112.86 20 2004 Q1 Averages Bias MAD

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