Given the Actual Demand from January to June of 2021, along with the forecasts based on three (3) selected methods. JAN FEB MAR APR MAY JUN Actual 960 1,230 1,520 1,350 1,800 1,920 Method 1 1,308 1,073 1,150 1,467 1,425 1,682 Method 2 1,324 1,215 1,219 1,310 1,322 1,465 Method 3 867 979 1,340 1,330 1,930 2,524 From the different methods, which is best? 1, 2, or 3? py What is the MAD value of the best method? What is the MSE value of the best method? What is the MAPE value of the best method? Answer using two decimal places.
Given the Actual Demand from January to June of 2021, along with the forecasts based on three (3) selected methods. JAN FEB MAR APR MAY JUN Actual 960 1,230 1,520 1,350 1,800 1,920 Method 1 1,308 1,073 1,150 1,467 1,425 1,682 Method 2 1,324 1,215 1,219 1,310 1,322 1,465 Method 3 867 979 1,340 1,330 1,930 2,524 From the different methods, which is best? 1, 2, or 3? py What is the MAD value of the best method? What is the MSE value of the best method? What is the MAPE value of the best method? Answer using two decimal places.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section: Chapter Questions
Problem 42P: The file P13_42.xlsx contains monthly data on consumer revolving credit (in millions of dollars)...
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