Question

Question 3 Two independent sets of forecasts based on judgement and experience have been prepared each month for the past 10 months. Draw the control chart (2s control limits) and judge each forecasting?

Answer 1

To draw a control chart for two independent sets of forecasts based on judgement and experience, calculate the mean and standard deviation for each set, plot the data points on a control chart, and compare forecasts to the control limits.

Step-by-step explanation:

To draw a control chart for two independent sets of forecasts based on judgement and experience, we need to calculate the mean (average) and standard deviation for each set of forecasts. Then, we can plot the data points on a control chart with 2s control limits. The control limits are calculated as mean ± 2 times the standard deviation.

1. Calculate the mean and standard deviation for each set of forecasts.
2. Plot the data points on a control chart and draw the 2s control limits.
3. Compare each forecast to the control limits:
4. If a forecast falls within the control limits, it is considered to be within the expected range.
5. If a forecast falls outside the control limits, it may indicate special cause variation or an unusual event that needs to be investigated.