Two independent set of forecasts based on judgment and experience have been prepared each month for tire
Question:
Two independent set of forecasts based on judgment and experience have been prepared each month for tire past 10 months. The forecasts and actual demand are as follows:
a. Calculate tire MSE, MAD, and MAPE for each forecast. Does one forecast seem superior? Explain.
b. Do all three measures of forecast errors provide tire same conclusion (i.e., are they consist tent) in this case? Do you expect consistent results in. every case? Explain.
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Related Book For
Operations Management
ISBN: 978-0071091428
4th Canadian edition
Authors: William J Stevenson, Mehran Hojati
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