Question

The table below represents the litres of juice that John had hoped to sell ( left(hat{y}_{i} ight) ) and the litres that he had sold ( left(y_{i} ight): ) egin{tabular}{|l|c|c|c|c|c|c|c|} hline Days & 1 & 2 & 3 & 4 & 5 & 6 & 7 \ hline Actual observations ( left(y_{i} ight) ) & 39 & 22 & 23 & 26 & 11 & 28 & 13 \ hline Estimated observations ( left(hat{y}_{i} ight) ) & 45 & 18 & 23 & 27 & 15 & 24 & 11 \ hline end{tabular} 2.1) In your own words, define what is the difference between overestimation and underestimation. (6) 2.2) On which days was there overestimation? (3) 2.3) On which days was there underestimation? (3) 2.4) Calculate the forecast errors for these estimates. (4) 2.5) Identify the day on which the juice sales were most disappointing. (4) 2.6) On which day did John make the best prediction (3)

          The table below represents the litres of juice that John had hoped to sell ( left(hat{y}_{i}
ight) ) and the litres that he had sold ( left(y_{i}
ight): )
egin{tabular}{|l|c|c|c|c|c|c|c|}
hline Days & 1 & 2 & 3 & 4 & 5 & 6 & 7 \
hline Actual observations ( left(y_{i}
ight) ) & 39 & 22 & 23 & 26 & 11 & 28 & 13 \
hline Estimated observations ( left(hat{y}_{i}
ight) ) & 45 & 18 & 23 & 27 & 15 & 24 & 11 \
hline
end{tabular}
2.1) In your own words, define what is the difference between overestimation and underestimation.
(6)
2.2) On which days was there overestimation?
(3)
2.3) On which days was there underestimation?
(3)
2.4) Calculate the forecast errors for these estimates.
(4)
2.5) Identify the day on which the juice sales were most disappointing.
(4)
2.6) On which day did John make the best prediction
(3)

The table below represents the litres of juice that John had hoped to sell ( left(hatyi
ight) ) and the litres that he had sold ( left(yi
ight): )
egintabular|l|c|c|c|c|c|c|c|
hline Days 1 2 3 4 5 6 7 hline Actual observations ( left(yi
ight) ) 39 22 23 26 11 28 13 hline Estimated observations ( left(hatyi
ight) ) 45 18 23 27 15 24 11 hline
endtabular
2.1) In your own words, define what is the difference between overestimation and underestimation.
(6)
2.2) On which days was there overestimation?
(3)
2.3) On which days was there underestimation?
(3)
2.4) Calculate the forecast errors for these estimates.
(4)
2.5) Identify the day on which the juice sales were most disappointing.
(4)
2.6) On which day did John make the best prediction
(3)

Added by Bafana B.

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