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Forecasting for frozen prepared dinners

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The table below shows the results of two methods (Forecast 1 and Forecast 2) of forecasting for frozen prepared dinners, as well as the demand for the eight periods.

Column 1 = Period Column 2= Demand Column 3 = F1 (Predicted Demand) Column 4 = F2 (Predicted Demand)

1 68 67 65

2 75 67 66

3 70 73 70

4 74 69 69

5 69 72 72

6 72 66 73

7 80 70 75

8 78 77 81

A. Compare the accuracy of Forecast 1 and Forecast 2 by calculating the Mean Absolute Deviation for each one. Which is more accurate? (Round your answers to 2 decimal places.)

MAD F1  =

MAD F2  =

B. Compare the accuracy of Forecast 1 and Forecast 2 by calculating the Mean Squared Error for each one. Which is more accurate? (Round your answers to 2 decimal places.)

C. Compare the accuracy of Forecast 1 and Forecast 2 by calculating the Mean Absolute Percent Error for each one. Which is more accurate? (Round your intermediate calculations to 2 decimal places and and final answers to 2 decimal places.)

MAPE F1  =

MAPE F2 =

Reference no: EM131647570

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