On the first day of your job, you were assigned to evaluate/measure the performance of their previous forecasts by calculating the MAD and MAPE, using the following previous sales and forecasting data. Period Actual Forecast Abs Error Abs Percentage Error 1 110 103 ? ? 2 102 108 ? ? 3 105 106 ? ? MAD ? MAPE ? The MAPE of this forecasting is (Please choose the closest one
On the first day of your job, you were assigned to evaluate/measure the performance of their previous forecasts by calculating the MAD and MAPE, using the following previous sales and forecasting data. Period Actual Forecast Abs Error Abs Percentage Error 1 110 103 ? ? 2 102 108 ? ? 3 105 106 ? ? MAD ? MAPE ? The MAPE of this forecasting is (Please choose the closest one
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 1GP
Related questions
Question
On the first day of your job, you were assigned to evaluate/measure the performance of their previous forecasts by calculating the MAD and MAPE, using the following previous sales and forecasting data.
|
Period |
Actual |
Forecast |
Abs Error |
Abs Percentage Error |
|
1 |
110 |
103 | ? |
? |
|
2 |
102 |
108 |
? |
? |
|
3 |
105 |
106 |
? |
? |
|
|
MAD ? |
MAPE ? |
The MAPE of this forecasting is (Please choose the closest one)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill