Sharon Johnson, sales manager for the Alvarez-Baines Company, is trying to choose between two methods for forecasting
Question:
a. Calculate and compare MAD for these two forecasting methods. Then do the same with MSE.
b. Sharon is uncomfortable with choosing between these two methods based on such limited data, but she also does not want to delay further before making her choice. She does have similar sales data for the three years prior to using these forecasting methods the past five months. How can these older data be used to further help her evaluate the two methods and choose one?
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Related Book For
Introduction to Management Science A Modeling and Cases Studies Approach with Spreadsheets
ISBN: 978-0078024061
5th edition
Authors: Frederick S. Hillier, Mark S. Hillier
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