Question: Given the trouble The Fresh Connection has been having with recent forecast accuracy, they have asked you to evaluate the past year's forecast method against
Given the trouble The Fresh Connection has been having with recent forecast accuracy, they have asked you to evaluate the past year's forecast method against the sales that actually occurred. In the tables below they are providing the sales for last year and the forecast values that were available at the time. You are to use MAPE to determine the level of accuracy for this forecast.
Last Year Sales
Last Year Forecast
Mean Absolute Percentage Error MAPE like MAD requires the absolute value of the errors. For MAPE find each absolute error as a percent of the actual sales in the period. Then find the average of those absolute percentage errors.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
