Question: Given the data in Table below, compute the error measurements indicated. a.Calculate Error, Error Squared, Absolute Error and Absolute Percentage Error. (2.5 marks each =

Given the data in Table below, compute the error measurements indicated.

a.Calculate Error, Error Squared, Absolute Error and Absolute Percentage Error. (2.5 marks each = 10 marks)

b. Calculate CFE, MSE, MAD and MAPE. (5 marks each = 20 marks)

Month

Demand

Forecast

Error

Error Squared

Absolute Error

Absolute Percentage Error

1

50

57

2

60

53

3

55

55

4

45

57

5

70

50

6

58

52

7

64

64

8

53

61

9

59

59

10

62

56

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!