Solution-Compute the mse the mape and the rsfe forecasting

Compute the mse the mape and the rsfe forecasting method

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Reference no: EM13849394

1. The owner of the Chocolate Outlet Store wants to forecast chocolate demand. Demand for the preceding four years is shown in the following table:

YEAR	DEMAND (POUNDS)
1	68,800
2	71,000
3	75,500
4	71,200

Forecast demand for Year 5 using the following approaches: (1) a three-year moving average; (2) a three-year weighted moving average using. 40 for Year 4, .20 for Year 3, and .40 for Year 2; (3) exponential smoothing with a = .30, and assuming the forecast for Period 1 = 68,000.

2. The forecasts generated by two forecasting methods and actual sales are as follows:

MONTH	SALES	FORECAST1	FORECAST 2
1	269	275	268
2	289	266	287
3	294	290	292
4	278	184	298
5	268	270	274
6	269	268	270
7	260	261	259
8	275	271	275

Compute the MSE, the MAD, the MAPE, the RSFE, and the tracking signal for each forecasting method. Which method is better? Why?

Reference no: EM13849394

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Compute the mse the mape and the rsfe forecasting method

Reference no: EM13849394

Reference no: EM13849394

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