Question: Question 1 ( 3 0 points ) : A logistics company tracks the monthly demand for a particular product over the past seven months, as
Question points: A logistics company tracks the monthly demand for a particular product over the past seven months, as shown below:
tableMonthDemand UnitsForecast MAError
a points Using a month moving average, forecast the demand for the and months.
b points Calculate the error terms for months and based on the actual demand values in the table and the forecast values you obtained in part a Calculate the Mean Absolute Deviation Error MAD and Mean Squared Error MSE
c points Calculate the month and month moving averages for Month and compare the forecasts. Based on the actual demand of units for Month which moving average method month, month, or month provides the most accurate forecast and explain the reason why it gives a smaller error term?
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