Question: Forecasting Error Measure To test the validity of the forecasting model, compute (absolute) forecast errors, (cumulative) absolute errors, MAD, MSE, and MAPE. Following is the

Forecasting Error Measure

To test the validity of the forecasting model, compute (absolute) forecast errors, (cumulative) absolute errors, MAD, MSE, and MAPE.

Following is the forecast and the actual demand.

Week

Forecast

Actual

1

3750

3950

2

3600

4190

3

3900

4430

4

4125

3550

5

4350

3900

6

4200

4460

7

4500

4700

A. Find the forecast (absolute) error for Period 7?

B. Find the forecast (cumulative) absolute error for Period 7?

C. Find the MAD (Mean absolute deviation) for period 7?

d. Find MSE (Mean Square Error) for all forecasting periods?

e. Find MAPE (Mean Absolute Percentage Error) for period 7?

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