Question: Consider the following data set: Month Actual Sales Forecast 1 Forecast 2 1 777 771 769 2 789 785 787 3 794 790 792 4

Consider the following data set:

Month

Actual Sales

Forecast 1

Forecast 2

1

777

771

769

2

789

785

787

3

794

790

792

4

780

784

798

5

768

770

774

6

779

768

770

7

760

761

759

8

785

771

775

9

786

784

788

10

791

788

788

  1. Calculate MAD and MSE for each forecast (forecast 1 and forecast 2).
  2. Calculate MAPE for each forecast (forecast 1 and forecast 2).

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!