Answered Essay: Please, calculate for A, B and D.    Predicted Demand Period     Demand               F1                          F2           1                            68                          62                          64

Please, calculate for A, B and D.

Predicted Demand

Period                  Demand               F1                          F2

1                            68                          62                          64

2                            75                          65                          68

3                            70                          74                          70

4                            74                          71                          69

5                            69                          72                          75

6                            72                          70                          78

7                            80                          73                          75

8                            78                          73                          84

a. Compare the accuracy of Forecast 1 and Forecast 2 by calculating the Mean Absolute Deviation for each one. Which is more accurate? (Round your answers to 2 decimal places.)

MAD F1

MAD F2

b. Compare the accuracy of Forecast 1 and Forecast 2 by calculating the Mean Squared Error for each one. Which is more accurate? (Round your answers to 2 decimal places.)

MSE A

MSE B

d. Compare the accuracy of Forecast 1 and Forecast 2 by calculating the Mean Absolute Percent Error for each one. Which is more accurate? (Round your intermediate calculations to 2 decimal places and final answers to 2 decimal places.)

MAPE F1

MAPE F2

Thank you 🙂

Expert Answer

Answer

MAD= (1/n)sum left | Actual-Forecast right |

MSE=(1/(n-1))sum (Actual-Forecast)^{2}

MAPE = (1/n)*100*sum left | Actual-Forecast right |/Actual

a) MAD F1 = 5.00

MAD F2 = 4.88

Forecast 2 is more accurate is the error MAD is less when compare with F1

b) MSE F1 = 35.43

MSE F2 = 31.86

Forecast 2 is more accurate is the error MSE is less when compare with F1

d)

MAPE F1 = 6.78%

MAPE F2 =6.62%

MAPE F2 to be more accurate

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