Define mad, mse and mape for forecasting
MAD, MSE and MAPE for forecasting.
Compute (a) MAD, (b) MSE, and (c) MAPE for the following forecast versus actual sales figures.
Forecast
Actual
100
95
110
108
120
123
130
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The fabulous filling machine for Fruit-o Flakes cereal fills boxes of cereal according to a normal distribution with a mean of 16.0 ounces and the standard deviation of 0.2 ounces.
Utilize the sales data given below determine The MAD
define MAD, MSE and MAPE for forecasting.
Make use of simple exponential smoothing with α = 0.33 to forecast battery sales for February through May. Presume that the forecast for January was for 22 set of tires.
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Utilize simple exponential smoothing with α = 0.3 to forecast battery sales for February through May. Suppose that the forecast for January was for 22 batteries.
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