Discuss the below:
Q: On the basis of the mean absolute percentage error, does it appear that the forecast model in model 1 or the forcast in model 2 dies the better job in forecasting? Discuss the MAD and MSE for both.
Model 1
|
Week
|
Demand
|
Forecast
|
|
1
|
218
|
240
|
|
2
|
275
|
245
|
|
3
|
244
|
250
|
|
4
|
262
|
255
|
|
5
|
271
|
260
|
|
6
|
273
|
265
|
|
7
|
261
|
270
|
|
8
|
236
|
275
|
|
Model 2
|
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
|
|