Question: (1 pt) Compare the forecasting methods discussed in Questions 1-3 in order to identify the best forecasting method among them. For this question, compute MAE,
(1 pt) Compare the forecasting methods discussed in Questions 1-3 in order to identify the best forecasting method among them. For this question, compute MAE, RMSE, and MAPE under these methods and compare the corresponding values. What is the best forecasting method? Hint: You dont have to consider methods that are redundant in your comparison.
| MM-YY | Period | Sales |
| t | St | |
| Jul-09 | 1 | 3,924 |
| Aug-09 | 2 | 2,619 |
| Sep-09 | 3 | 6,920 |
| Oct-09 | 4 | 5,676 |
| Nov-09 | 5 | 8,348 |
| Dec-09 | 6 | 6,044 |
| Jan-10 | 7 | 6,877 |
| Feb-10 | 8 | 6,535 |
| Mar-10 | 9 | 6,395 |
| Apr-10 | 10 | 6,684 |
| May-10 | 11 | 5,414 |
| Jun-10 | 12 | 3,180 |
| Jul-10 | 13 | 4,350 |
| Aug-10 | 14 | 3,175 |
| Sep-10 | 15 | 6,935 |
| Oct-10 | 16 | 6,356 |
| Nov-10 | 17 | 8,919 |
| Dec-10 | 18 | 7,146 |
| Jan-11 | 19 | 7,763 |
| Feb-11 | 20 | 7,397 |
| Mar-11 | 21 | 7,286 |
| Apr-11 | 22 | 7,498 |
| May-11 | 23 | 6,386 |
| Jun-11 | 24 | 4,209 |
| Jul-11 | 25 | 4,825 |
| Aug-11 | 26 | 3,764 |
| Sep-11 | 27 | 7,066 |
| Oct-11 | 28 | 7,015 |
| Nov-11 | 29 | 9,535 |
| Dec-11 | 30 | 8,278 |
| Jan-12 | 31 | 8,773 |
| Feb-12 | 32 | 8,393 |
| Mar-12 | 33 | 8,288 |
| Apr-12 | 34 | 8,432 |
| May-12 | 35 | 7,455 |
| Jun-12 | 36 | 5,346 |
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