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Moving Average Forecast and Forecast Accuracy Measure

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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?

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Detailed step-by-step calculations involving Moving Average Forecast and Forecast Accuracy Measures of MAD, MAPD and Cumulative Error has been shown in Excel.

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  • MSc, Indian Institute of Technology - Roorkee (I.I.T.-ROORKEE)
  • BSc, Banaras Hindu University
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