Question: Different forecasting techniques were used to forecast demand for an item. The actual demand and the two sets of forecasts are as follows: Actual Demand

  1. Different forecasting techniques were used to forecast demand for an item. The actual demand and the two sets of forecasts are as follows:

Actual Demand

Forecast Using Method 1

Forecast Using Method 2

320

296

330

300

310

340

360

348

364

380

360

380

400

410

390

550

510

430

Compute the MAD for each set of forecasts. Which forecast appears to be most accurate?

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