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:

Two independent set of forecasts based on judgment and experience


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.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Operations Management

ISBN: 978-0071091428

4th Canadian edition

Authors: William J Stevenson, Mehran Hojati

Question Posted: