**Mean Absolute Percent Error (MAPE) Calculation**The table below shows the actual demand and forecasts for a series of periods:| Period | Actual Demand | Forecast ||--------|---------------|----------|| 1 | 800 | 720 || 2 | 700 | 720 || 3 | 1800 | 720 || 4 | 300 | 720 || 5 | 750 | 720 |The question is: What is the mean absolute percent error (MAPE) of these forecasts?Options are:- A. 0.4337- B. 326- C. 0.4528- D. 0- E. 1.1137MAPE is calculated using the formula:\[ \text{MAPE} = \frac{1}{n} \sum \left( \frac{| \text{Actual} - \text{Forecast} |}{\text{Actual}} \times 100\% \right) \]Where \( n \) is the number of periods. Below are multiple-choice options typically found in a question format on an educational platform. The context or specific question is not included, so each option is listed independently:- **A.** 0.4337- **B.** 326- **C.** 0.4528- **D.** 0- **E.** 1.1137- **F.** -0.1377- **G.** 150- **H.** 260.23This image presumably represents the answer choices for a given question, often seen in tests or quizzes that involve mathematical computations or data analysis. There are no graphs or diagrams provided in the image to explain.

Mean absolute percentage error (MAPE) is the average of the absolute values of the difference…

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Practical Management Science

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Forecast error is calculated as: Actual - Forecast O Forecast - Actual (Forecast - Actual) ^ 2 Absolute (Actual - Forecast) (Actual - Forecast) ^ 2
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Please do not give solution in image formate thanku. Bradley's Copiers sells and repairs photocopy machines. The manager needs weekly forecasts of service calls so that he can schedule service personnel. Use the actual demand in the first period for the forecast for the first week so error measurement begins in the second week. The manager uses exponential smoothing with α = 0.5 Forecast the number of calls for week 6, which is next week. WEEK ACTUAL SERVICE CALLS 1 28 2 32 3 40 4 27 5 30
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What is the mean absolute percent error of the following forecasts? Actual Demand Period 1 800 700 1800 300 750 2345 Forecast 720 720 720 720 720