Using mape as the accuracy measure which forecast is best

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Reference no: EM131867673

You must show your work (computations) in order to earn credit for this assignment.

A convenience store posted the following figures for gasoline sales in gallons over the past 4 days compared to its forecasted sales using two different forecast methods:

DAY ACTUAL SALES FORECAST 1 FORECAST 2

1 590 620 580

2 630 630 635

3 560 610 570

4 620 600 625

Using MAPE as the accuracy measure, which forecast is "best"? State your answer in a one-sentence explanation of the results of your calculations.

Reference no: EM131867673

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