d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations to 2 decimal places and and final answers to 2 decimal places.) MAPE F1 % MAPE F2 % F2 appears to be more accurate.
d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations to 2 decimal places and and final answers to 2 decimal places.) MAPE F1 % MAPE F2 % F2 appears to be more accurate.
Contemporary Marketing
18th Edition
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Louis E. Boone, David L. Kurtz
Chapter14: Pricing Strategies
Section14.2: Forecasting Demand
Problem 1LO
Related questions
Question
![d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations to 2
decimal places and and final answers to 2 decimal places.)
МАРЕ F1
%
МАРЕ F2
F2
appears to be more accurate.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4ced2b69-7195-4860-954c-1930b6dde0c1%2F7ae7777c-ddf4-4ee5-846b-f7c4567cad9d%2Fkbv6b1n_processed.png&w=3840&q=75)
Transcribed Image Text:d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations to 2
decimal places and and final answers to 2 decimal places.)
МАРЕ F1
%
МАРЕ F2
F2
appears to be more accurate.
![Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two
sets of forecasts are as follows:
ITT
PREDICTED DEMAND
Period
Demand
F1
F2
1
68
63
66
2
75
70
67
3
70
75
70
4
74
69
72
69
70
73
6.
72
68
75
7
80
70
77
8
78
74
84
Click here for the Excel Data File](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4ced2b69-7195-4860-954c-1930b6dde0c1%2F7ae7777c-ddf4-4ee5-846b-f7c4567cad9d%2F3av4mjb_processed.png&w=3840&q=75)
Transcribed Image Text:Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two
sets of forecasts are as follows:
ITT
PREDICTED DEMAND
Period
Demand
F1
F2
1
68
63
66
2
75
70
67
3
70
75
70
4
74
69
72
69
70
73
6.
72
68
75
7
80
70
77
8
78
74
84
Click here for the Excel Data File
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