Question: A manager has been using a certain technique to forecast demand for the number of moving vans required for the past six periods. Actual and

A manager has been using a certain technique to forecast demand for the number of moving vans required for the past six periods. Actual and predicted amounts are shown below.

Period

Demand

Forecast

1

90

87

2

85

88

3

91

87

4

92

89

5

95

90

6

88

92

1. Calculate the MAD error summary and provide your answer to two decimal points.

2. Calculate the MSE error summary and provide only your answer to two decimal points.

3. Calculate the MAPE error summary and provide only your answer to two decimal points.

4. Evaluate your forecasting method by commenting on your answers for MAD, MSE, MAPE

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