7. The Sun Devils Corporation is deciding which of two forecasting models to use. The forecasts for the two models and actual demand are provided below: MONTH 1 2 3 4 5 6 7 8 9 10 SALES 170 190 195 180 170 170 160 175 180 175 MODEL 1 FORECAST 175 165 190 185 170 165 160 170 185 170 MODEL 2 FORECAST 172 185 190 195 175 170 165 175 180 175 Compute the MAPE and RSFE for the two forecasting methods. Is RSFE a good fore- casting accuracy measure?

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

please do not write by hand. please show the formulas that were used.

7. The Sun Devils Corporation is deciding which of two forecasting models to use. The
forecasts for the two models and actual demand are provided below:
MONTH
1
2
3
4
5
6
7
8
9
10
SALES
170
190
195
180
170
170
160
175
180
175
MODEL 1
FORECAST
175
165
190
185
170
165
160
170
185
170
MODEL 2
FORECAST
172
185
190
195
175
170
165
175
180
175
Compute the MAPE and RSFE for the two forecasting methods. Is RSFE a good fore-
casting accuracy measure?
Transcribed Image Text:7. The Sun Devils Corporation is deciding which of two forecasting models to use. The forecasts for the two models and actual demand are provided below: MONTH 1 2 3 4 5 6 7 8 9 10 SALES 170 190 195 180 170 170 160 175 180 175 MODEL 1 FORECAST 175 165 190 185 170 165 160 170 185 170 MODEL 2 FORECAST 172 185 190 195 175 170 165 175 180 175 Compute the MAPE and RSFE for the two forecasting methods. Is RSFE a good fore- casting accuracy measure?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman