The manager of a large manufacturer of industrial pumps must choose between two alternative forecasting techniques. Both
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The manager of a large manufacturer of industrial pumps must choose between two alternative forecasting techniques. Both techniques have been used to prepare forecasts for a sixmonth period. Using MAD as a criterion, which technique has the better performance record?
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Month 1 2 3 4 5 6 Demand 492 470 485 493 498 492 FORECAST Technique 1 488 484 480 490 497 493 Technique 2 495 482 478 488 492 493
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Check that each forecast has an average error of approximately zero See computations that follow ...View the full answer
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