Sales of quilt covers at Bud Banis's department store in Carbondale over the past year are shown
Question:
Sales of quilt covers at Bud Banis's department store in Carbondale over the past year are shown below. Management prepared a forecast using a combination of exponential smoothing and its collective judgment for the 4 months ( March, April, May, and June):
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a) Compute MAD and MAPE for management's technique.
b) Do management's results outperform (i.e., have smaller MAD and MAPE than) a naive forecast?
c) Which forecast do you recommend, based on lower forecast error?
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a Actual Forecast Error Error March 101 120 19 100 ...View the full answer
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Akshay Agarwal
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