Question: Some measures of forecasting accuracy include mean absolute deviation, mean absolute percentage error, and mean squared error. The formula for each is dependent on the

Some measures of forecasting accuracy include mean absolute deviation, mean absolute percentage error, and mean squared error. The formula for each is dependent on the forecast error, which is calculated using the equation:

Actual demand for period

t

plus the forecasted demand for period

t

Actual demand for period

t

minus the forecasted demand for period

t .

Actual demand for period

t

multiplied by the forecasted demand for period

t .

Actual demand for period

t

divided by the forecasted demand for period

t .

Some measures of forecasting accuracy include mean absolute deviation, mean absolute

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