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Determine which forecasts are more accurate using the mean


Given the following information, make a forecast for period 7 using α=.1 and α=.5. Assume that forecast for period 1 is 350.

Period          Actual

1                 300

2                 540

3                 885

4                 580

5                 420

6                 750

Determine which forecasts are more accurate using the Mean Absolute Percent Error.

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Business Management: Determine which forecasts are more accurate using the mean
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