Using the forecasting results from Exercise 2.1, calculate MAD and MAPE for naïve, three- period and four- period forecasts. Which forecast appears more accurate?
Exercise 1:
The monthly ambulatory visits shown in Table EX 2.1 occurred in an outpatient clinic.
a. Predict visits for January, using the naïve forecast method.
b. Predict visits for January, using a three - period moving average.
c. Predict visits for January, using a four - period moving average.