Two forecasting methods were used to forecast the next 12 quarters. The forecasts and actuals for each quarter are given in the table below.Compute the Mean Absolute Percentage Error for each method (to one decimal point). Which statement is correct?ActualsMethod 1Method 2Q1576145Q2416145Q3326145Q4396145O MAPE1 is 50.7% and MAPE 2 is 21.7%, the second method is more accurateO MAPE1 is 56.4% and MAPE 2 is 15.4%, the second method is more accurateO MAPE1 is 30.7% and MAPE 2 is 19.4%, the second method is more accurateO MAPE1 is 50.9% and MAPE 2 is 63.8%, the first method is more accurate

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Two forecasting methods were used to forecast the next 12 quarters. The forecasts and actuals for each quarter are given in the table below. Compute the Mean Absolute Percentage Error for each method (to one decimal point). Which statement is correct? Actuals Method 1 Method 2 Q1 57 61 45 Q2 41 61 45 Q3 32 61 Q4 39 61 45 O MAPE1 is 50.7% and MAPE 2 is 21.7%, the second method is more accurate MAPE1 is 56.4% and MAPE 2 is 15.4%, the second method is more accurate O MAPE1 is 30.7% and MAPE 2 is 19.4%, the second method is more accurate MAPE1 is 50.9% and MAPE 2 is 63.8%, the first method is more accurate 15

Two forecasting methods were used to forecast the next 12 quarters. The forecasts and actuals for each quarter are given in the table below. Compute the Mean Absolute Percentage Error for each method (to one decimal point). Which statement is correct? Actuals Method 1 Method 2 Q1 57 61 45 Q2 41 61 45 Q3 32 61 Q4 39 61 45 O MAPE1 is 50.7% and MAPE 2 is 21.7%, the second method is more accurate MAPE1 is 56.4% and MAPE 2 is 15.4%, the second method is more accurate O MAPE1 is 30.7% and MAPE 2 is 19.4%, the second method is more accurate MAPE1 is 50.9% and MAPE 2 is 63.8%, the first method is more accurate 15

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.7: Exponential Smoothing Models

Problem 25P: The file P13_25.xlsx contains the quarterly numbers of applications for home mortgage loans at a...

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