Explain the best-fitting model according to the mad criteria

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Reference no: EM131866666

For each model compute the Mean Absolute Deviation.

(Note: in order to include the same number of measurements for all models, only include years 5 to 11 in your computation.)

Choose the best-fitting model according to the MAD criteria.


year	demmand	3 yr avg	4 yr avg	exp smoothing	Naïve
1	7			6
2	9			6.3	7
3	5			7.11	9
4	9	7		6.477	5
5	13	7.6666	7.5	7.233	9
6	8	9	9	8.96	13
7	12	10	8.75	8.67	8
8	13	11	10.5	9.67	12
9	9	11	11.5	10.6	13
10	11	11.333	10.5	10.19	9
11	7	11	11.25	9.4	11

Reference no: EM131866666

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