Question: 4 . A forecaster is assessing two different models for demand. The output from each model and the actual demand data appear in the table.

4. A forecaster is assessing two different models for demand. The output from each model and the actual demand data appear in the table. Use MAD and a tracking signal to compare the two models. Which model does a better job of forecasting?
Demand Model 1 Model 2
5255.051.0
5254.751.9
6054.452.0
5655.059.2
5855.156.3
5855.457.8
5255.658.0
5755.352.6
5355.456.6
5755.253.4

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!