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
Get step-by-step solutions from verified subject matter experts
