As a supply chain manager for a company, you are tasked with forecasting the demand for a particular product. To assess the accuracy of your forecasting model, you decide to calculate the Mean Absolute Percent Error (MAPE) for the past seven months. Below is the data representing the actual demand and forecasted demand for each month: Month Actual Demand  Forecasted Demand  1 1000 1100 2 900 1200 3 1300 1400 4 1100 700 5 2000 1700 6 1500 1200 7 1600 1500   What is the Mean Absolute Percent Error (MAPE) for the seven-month period?    Question 1 options:   a)  20.68%   b)  17.66%   c)  18.38%   d)  19.44%

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As a supply chain manager for a company, you are tasked with forecasting the demand for a particular product. To assess the accuracy of your forecasting model, you decide to calculate the Mean Absolute Percent Error (MAPE) for the past seven months. Below is the data representing the actual demand and forecasted demand for each month:

Month Actual Demand  Forecasted Demand 
1 1000 1100
2 900 1200
3 1300 1400
4 1100 700
5 2000 1700
6 1500 1200
7 1600 1500

 

What is the Mean Absolute Percent Error (MAPE) for the seven-month period? 

 

Question 1 options:

 

a) 

20.68%

 

b) 

17.66%

 

c) 

18.38%

 

d) 

19.44%

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