Aztec Industries has developed a forecasting model that was used to forecast during a 10-month period. The forecasts and actual demand were as follows:
(see attached file for data)
Measure the accuracy of the forecast by using MAD, MAPD, and cumulative error. Does the forecast method appear to be accurate?© BrainMass Inc. brainmass.com December 15, 2020, 5:27 pm ad1c9bdddf
Please refer to the attachment 'Solution.xlsx' for the workings and solutions.
Judging by the low ...
Detailed step-by-step calculations involving Moving Average Forecast and Forecast Accuracy Measures of MAD, MAPD and Cumulative Error has been shown in Excel.