Question: Using the Product Forecasting Information that has been provided from FY2017 through FY2020 (four years), calculate the measures of forecast accuracy (MFE, MAD, and MAPE)

  1. Using the Product Forecasting Information that has been provided from FY2017 through FY2020 (four years), calculate the measures of forecast accuracy (MFE, MAD, and MAPE) for the Weighted Moving Average (MA) and the Exponential Smoothing (EXP) approaches to forecasting.
    1. What are the values of MFE, MAD, and MAPE for each of these two approaches to forecasting (MA and EXP)? Which of the approaches is more accurate?
    2. Do these forecasts seem adequate for the purposes of decision making? Why or why not?

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