1) A company had the following demand for the past 2 years, please develop an optimal forecasting method (one with the lowest error), and forecast the next 12 months using the best model. Compare MAD/MSE/MFE and MAPE across the different forecasting methods you select Please discuss your results 2020 Demand 2021 Demand Jan 1361 Dec 1438 Feb 1286 Jan 1415 Feb 1325 Mar 1230 Mar 1286 Apr 1225 Apr 1295 May 1220 May 1275 Jun 1250 Jun 1255 Jul 1210 Jul 1290 Aug 1190 Aug 1240 Sep 1240 Sep 1300 Oct 1288 Oct 1375 Nov 1422 Nov 1362 Dec 1490 Dec 1438
1) A company had the following demand for the past 2 years, please develop an optimal forecasting method (one with the lowest error), and forecast the next 12 months using the best model. Compare MAD/MSE/MFE and MAPE across the different forecasting methods you select Please discuss your results 2020 Demand 2021 Demand Jan 1361 Dec 1438 Feb 1286 Jan 1415 Feb 1325 Mar 1230 Mar 1286 Apr 1225 Apr 1295 May 1220 May 1275 Jun 1250 Jun 1255 Jul 1210 Jul 1290 Aug 1190 Aug 1240 Sep 1240 Sep 1300 Oct 1288 Oct 1375 Nov 1422 Nov 1362 Dec 1490 Dec 1438
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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![1) A company had the following demand for the past 2 years, please develop an optimal
forecasting method (one with the lowest error), and forecast the next 12 months using the best
model. Compare MAD/MSE/MFE and MAPE across the different forecasting methods you select
Please discuss your results
2020 Demand
2021 Demand
Jan
1361
Dec
1438
Feb
1286
Jan
1415
Feb
1325
Mar
1230
Mar
1286
Apr
1225
Apr
1295
May
1220
May
1275
Jun
1250
Jun
1255
Jul
1210
Jul
1290
Aug
1190
Aug
1240
Sep
1240
Sep
1300
Oct
1288
Oct
1375
Nov
1422
Nov
1362
Dec
1490
Dec
1438](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F226c5102-e542-4c11-b56f-63e64d6700b1%2F6b50f4df-c82d-4684-b53e-2ed0fdb0246c%2F7txwuas_processed.png&w=3840&q=75)
Transcribed Image Text:1) A company had the following demand for the past 2 years, please develop an optimal
forecasting method (one with the lowest error), and forecast the next 12 months using the best
model. Compare MAD/MSE/MFE and MAPE across the different forecasting methods you select
Please discuss your results
2020 Demand
2021 Demand
Jan
1361
Dec
1438
Feb
1286
Jan
1415
Feb
1325
Mar
1230
Mar
1286
Apr
1225
Apr
1295
May
1220
May
1275
Jun
1250
Jun
1255
Jul
1210
Jul
1290
Aug
1190
Aug
1240
Sep
1240
Sep
1300
Oct
1288
Oct
1375
Nov
1422
Nov
1362
Dec
1490
Dec
1438
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