Question: Using the Product Forecasting Information that has been provided from FY 2 0 1 7 through FY 2 0 2 0 ( four years )
Using the Product Forecasting Information that has been provided from FY through FYfour 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.
a 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?
b Do these forecasts seem adequate for the purposes of decision making? Why or why not?
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