Question: ( SHOW YOUR COMPLETE WORK ) Two independent forecasting methods 1 and 2 have been used each week for the past eight weeks. The actual
SHOW YOUR COMPLETE WORK Two independent forecasting methods and have been used each week for the past eight weeks. The actual demand and demand forecasts from these two methods are shown below.
tableWEEKtableACTUAL DEMANDin unitsDEMAND FORECASTS in unitsMethod Method Eight weeks ago,Seven weeks ago,Six weeks ago,Five weeks ago,Four weeks ago,Three weeks ago,Two weeks ago,One week ago,,
a Calculate the Mean Absolute Deviation MAD measures for forecasting methods and Which forecasting method is better based on MAD?
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b Calculate the Mean Squared Error MSE measures for forecasting methods and Which forecasting method is better based on MSE?
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c Calculate the Mean Absolute Percent Error MAPE measures for forecasting methods and Which forecasting method is better based on MAPE?
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