DQ1: Which forecast error measuring tool is the best?
Of the four error tracking tools we have learned about today (MAD, MSE, MAPE and seasonality), which method provides the best way to track forecast error? Give examples.
DQ2: Is it possible to forecast seasonal products without removing the seasonal variations?
We calculate a seasonal index in order to remove the seasonal component before creating a forecast. Is it possible to remove this step and create a forecast with the seasonal variation still in place? Why or why not? Explain.