Calculate (a) MAD and (b) MSE for the following forecast versus actual sales figures: Forecast 100 110 120 130 Actual 95 108 123 130 Part 2
Calculate (a) MAD and (b) MSE for the following forecast versus actual sales figures: Forecast 100 110 120 130 Actual 95 108 123 130 Part 2
Contemporary Marketing
18th Edition
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Louis E. Boone, David L. Kurtz
Chapter14: Pricing Strategies
Section14.2: Forecasting Demand
Problem 1LO
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Question
8.
Calculate (a) MAD and (b) MSE for the following forecast versus actual sales figures:
Forecast
|
100
|
110
|
120
|
130
|
Actual
|
95
|
108
|
123
|
130
|
Part 2
a)
MAD= __________ (round your response to one decimal place).
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