Question: Your manager has come to you with the following data, showing actual demand for ve periods and forecast results for two different models. He has

Your manager has come to you with the following data, showing actual demand for ﬁve periods and forecast results for two different models. He has asked you to tell him which forecast model is “best” and why. Using MFE, MAD, and MAPE, tell him which model is best and why.
ACTUAL FORECAST FORECAST PERIOD DEMAND MODEL 1 MODEL 2 8 248 364

ACTUAL FORECAST FORECAST PERIOD DEMAND MODEL 1 MODEL 2 8 248 364 486 9 357 280 341 10 423 349 416 295 11 286 364 12 444 354 380

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