On the basis of the mean absolute percentage error does it


Model 1

Week

Demand

Forecast

1

218

240

2

275

245

3

244

250

4

262

255

5

271

260

6

273

265

7

261

270

8

236

275

Model 2

Week

Demand

Forecast

1

136

150

2

151

160

3

185

165

4

144

150

5

127

150

6

183

160

7

172

165

8

158

160        

On the basis of the mean absolute percentage error, does it appear that the forecast model in model 1 or the forcast in model 2 dies the better job in forecasting? Discuss the MAD and MSE for both.

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Operation Management: On the basis of the mean absolute percentage error does it
Reference No:- TGS02662160

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