EssayShort Answer 2 What is a tracking signal Explain the co

Essay/Short Answer

2. What is a tracking signal? Explain the connection between adaptive smoothing & tracking signals.

3. Identify the external product development strategies; describe each in a sentence or two.

4. What is a poka-yoke? Give an example.

5. What is the difference between natural and assignable causes of variation?

Solution

1. Tracking signal is used to monitor forecasts. It is used to evaluate the forecast results by making comparisons with the actual set of data.

Tracking signal is a mathematical parameter and can be calculated as a ratio of the cumulative sum of forecast errors (the deviations between the estimated forecasts and the actual values) to the mean absolute deviation

Connection between adaptive smoothing and tracking signals - tracking signals can be used as a smoothing constant. Tracking signals, as proposed by Trigg and Leach, can also be used as the value of the smoothing constant (alpha) for the next forecast. This is called adaptive smoothing because the value of the alpha factors adapts to the forecast accuracy.