Question: A forecaster is assessing two different models for demand. The output from each model and the actual demand data appears in the table. Use MAD
A forecaster is assessing two different models for demand. The output from each model and the actual demand data appears in the table. Use MAD to compare the two models. Which model does a better job of forecasting?
| Demand | Model 1 | Model 2 |
| 52 | 55 | 51 |
| 52 | 54.7 | 51.9 |
| 54 | 54.5 | 52.0 |
| 56 | 52.7 | 53.8 |
| 60 | 53.5 | 55.8 |
| 56 | 55.5 | 59.6 |
| 58 | 56.5 | 56.4 |
| 58 | 57.5 | 57.8 |
| 52 | 58.0 | 58.0 |
| 57 | 56.0 | 52.6 |
| 53 | 56.3 | 56.6 |
| 57 | 55.0 | 53.4 |
in the table. Use MAD to compare the two models. Which model does a better job of forecasting?
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o compare the two models for demand forecasting we can calculate the Mean Absolute Deviation MAD for ... View full answer
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