Question: Forecast accuracy ( 1 1 ?points ) a . ?Calculate the mean forecast error ( bias ) ?for months 7 - 1 2 ?of a

Forecast accuracy ( 1 1 ?points )
a . ?Calculate the mean forecast error ( bias ) ?for months 7 - 1 2 ?of a weighted average
forecast with prior months weighted . 4 5 , . 3 5 ?and . 2 ?respectively. What does the
error tell you about this forecast? ( 8 ?points )
b . ?What is the MAPE for the months 7 - 1 2 ?of this same forecast ( weighted average ) ?
What does this metric tell you about this forecast? ( 3 ?points )

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