Question: Problem 3: Forecasting (8 points) The company you work for has been working with two different consulting companies who each provided their own demand forecast
Problem 3: Forecasting (8 points) The company you work for has been working with two different consulting companies who each provided their own demand forecast for the new product launched earlier this year. The product has been on the market for 4 weeks and below are the actual units sold compared with each consulting company's forecast. Actual Sales (units) Inland Consulting Week Seacoast Consulting Forecast (units) Forecast (units) 8,000 10,000 12,000 9,256 9,981 9,500 11,000 13,500 2 11,639 15,548 4 14,000 15,000 a) Calculate the MAPE for the Seacoast Consulting forecast. (3 points) b) Calculate the MAPE for the Inland Consulting forecast. (3 points) c) Using the MAPE values from parts a and b, which consulting company had the better forecast? (2 points)
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