(c) Fine Teak Ltd has used two methods of forecasting in order to forecast the sales of its sofa beds for the first 12 months of 2020. The forecasts and actual sales are shown in the table below. Month Actual Sales Forecast Method Forecast Method 1 2 January 910 915 905 February 925 930 913 March 956 967 946 April 997 999 985 May 923 945 917 June 932 957 929 July 950 954 924 August 913 925 901 September 963 976 954 October 985 997 974 November 990 996 980 December 995 999 985 Calculate the Mean Absolute Deviation and Mean Absolute Percentage Deviation for each forecast. According to you, which method of forecasting is more accurate. Justify your answer. (i)

(c) Fine Teak Ltd has used two methods of forecasting in order to forecast the sales of its sofa beds for the first 12 months of 2020. The forecasts and actual sales are shown in the table below. Month Actual Sales Forecast Method Forecast Method 1 2 January 910 915 905 February 925 930 913 March 956 967 946 April 997 999 985 May 923 945 917 June 932 957 929 July 950 954 924 August 913 925 901 September 963 976 954 October 985 997 974 November 990 996 980 December 995 999 985 Calculate the Mean Absolute Deviation and Mean Absolute Percentage Deviation for each forecast. According to you, which method of forecasting is more accurate. Justify your answer. (i)

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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