Question: Problem 956510: Do not include anything other than numbers in your responses. For example, do not include comma or dollar sign in your numbers. As
Problem 956510: Do not include anything other than numbers in your responses. For example, do not include comma or dollar sign in your numbers. As a rule of thumb, keep 2 decimal places for larger numbers and 3 decimal places for smaller numbers less than 1. Use the following data to calculate the MAD and MSE of the forecasts.
| Period | Demand | Forecasts |
| 1 | 256 | -- |
| 2 | 270 | 244 |
| 3 | 248 | 251 |
| 4 | 265 | 248 |
| 5 | 244 | 243 |
| Period | Absolute Error |
| 1 | -- |
| 2 | |
| 3 | |
| 4 | |
| 5 |
Calculate the mean absolute deviation (MAD) of the forecasts? Calculate the mean squared errors (MSE) of the forecasts?
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
