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Carl P


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December 21, 2014








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Calculate the mean and standard deviation of actual sales. Line number Month (Period ) Actual Forecast x - ? (x - ?)* (x - ?) 10 January (1) 11.10 11.90 -3.43 11.79 20 February (2) 13.90 12.60 -0.63 0.40 30 March (3) 16.00 14.30 1.47 2.15 40 April (4) 13.70 14.90 -0.83 0.69 50 May (5) 14.30 17...
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What is the correlation for this data set? Hint: think about what you are correlating. The correlation between which two sets of numbers would offer meaningful information? (you do not need to show your calculations for this number) The correlation coefficient for this data set equals 0.25. That means that there is very insignificant (almost nonexistent) correlation between the forecast values and actual data, which means that the forecasts given are only 25% accurate...
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