Calculate the mfe and mad and mape for these models

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Reference no: EM131857162

Your manager has come to you with the following data, showing actual demand for five periods and forecast results for two different models.

Calculate the MFE, MAD, and MAPE for these models.

Period	Actual Demand	Forecast Model 1	Forecast Model 2
8	259	359	494
9	346	272	322
10	426	324	306
11	299	402	345
12	442	370	394

1. The MFE value for the forecast Model 1 is ____ ?(Enter your response rounded to one decimal place and include a minus sign if? necessary.)

2. The MAD value for the forecast Model 1 is_____ ?(Enter your response rounded to one decimal? place.)

3. The MAPE value for the forecast Model 1 is ___%.?(Enter your response rounded to one decimal? place.)

4. The MFE value for the forecast Model 2 is ___?(Enter your response rounded to one decimal place and include a minus sign if? necessary.)

5. The MAD value for the forecast Model 2 is ____ (Enter your response rounded to one decimal? place.)

6. The MAPE value for the forecast Model 2 is ____%

Reference no: EM131857162

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