Question: Jack and Jill are forecasters working at ABC Inc. Given in the tables below are their forecasts. Who is the better forecaster Jack or Jill?
Jack and Jill are forecasters working at ABC Inc. Given in the tables below are their forecasts.
Who is the better forecaster Jack or Jill? Justify with appropriate calculations. Use the forecasting error metrics. No credit if the appropriate calculations are not shown.
Jack:
| Actual demand | Forecast |
| 315 | 390 |
| 410 | 490 |
| 490 | 420 |
| 450 | 540 |
Jill:
| Actual Demand | Forecast |
| 2100 | 2280 |
| 2440 | 2590 |
| 2530 | 2325 |
| 2330 | 2625 |
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
