Which is better based on the forecast error analyses

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Reference no: EM132152507

1. Select the two potential best forecasting methods first, run the forecast using both methods, then decide which is better based on the forecast error analyses.

2. Use the “Forecast Sheet” tool (find it on the Data tab in Excel) to let Excel create a forecast for Black Plastic demand for you. Excel will make a make a new spreadsheet with the model results and the chart. Compare the resulting errors and the model parameters with those you obtained using method 2.

Reference no: EM132152507

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