The Forever Young Cosmetic Company used forecast model 2 to forecast demand for a different product. Eight weeks of actual data and forecast data are shown below. week demand forecast 1 136 150 2 151 160 3 185 165 4 144 150 5 127 150 6 183 160 7 172 165 8 158 160
a.) Calculate the MAD based on these 8 weeks of data.
b.) Calculate the MSE based on these 8 weeks of data.
c.) Calculate the MFE based on these 8 weeks of data.