Please provide rating..
MFE =sum of (Actual-Forecast)/Number of month | |||||
MAD = sum of|Actual-forecast|/Number of month | |||||
MAPE = sum of(|Actual-Forecast|/Actuals demand)/number of month | |||||
i | ii | iii=i-ii | iv=|i-ii| | v=iv/i | |
Month | Actual demand | Forecast | MFE | MAD | MAPE |
January | 1018 | 1063 | (45.00) | 45.00 | 4.42% |
February | 968 | 1054 | (86.00) | 86.00 | 8.88% |
March | 963 | 898 | 65.00 | 65.00 | 6.75% |
April | 1091 | 1029 | 62.00 | 62.00 | 5.68% |
May | 1089 | 1113 | (24.00) | 24.00 | 2.20% |
June | 1013 | 1100 | (87.00) | 87.00 | 8.59% |
Total | (115.00) | 369.00 | 36.53% | ||
Average | (19.17) | 61.50 | 6.09% | ||
MFE | MAD | MAPE | |||
MFE | (19.17) | ||||
MAD | 61.50 | ||||
MAPE | 6.09% | ||||
The forecast model is a overforecast as MFE is negative |
Problem 22 Consider the following forecast results. Caloulate MFE, MAD, and MAPE, using the data for...
Homework: Homework #2 Score: 0 of 4 pts Problem 22 Save 5 of 22 (17 complete)> HYV Score: 60%, 18 of 30 pt 1,4 Show Work | Question Help * Consider the following forecast results. Calculate MFE, MAD, and MAPE, using the data for the months January through June. Does the forecast model under-or overforecast? Actual Demand 1,008 972 923 1,059 1.137 991 Month Forecast January February March April May June 1,061 1,042 910 1,014 1,127 1,035 The MFE is(Enter...