ForecastingError_and_accuracy_example

ForecastingError_and_accuracy_example - Demand Forecast...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Period Actual Demand Forecast Model 1 Forecast Model 2 1 100 150 104 2 100 50 93 3 100 150 88 4 100 50 102 5 100 150 90 6 100 50 107 7 100 150 89 8 100 50 83 9 100 150 110 10 100 50 113 Average
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Period Actual Demand Forecast Model 1 Forecast Error Absolute Error Percent error 1 100 150 -50 50 50% 2 100 50 50 50 50% 3 100 150 -50 50 50% 4 100 50 50 50 50% 5 100 150 -50 50 50% 6 100 50 50 50 50% 7 100 150 -50 50 50% 8 100 50 50 50 50% 9 100 150 -50 50 50% 10 100 50 50 50 50% Average 0 50 500%/10 = 50%
Background image of page 2
Period Actual
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Demand Forecast Model 2 Forecast Error Absolute Error Percent error 1 100 104-4 4 4% 2 100 93 7 7 7% 3 100 88 12 12 12% 4 100 102-2 2 2% 5 100 90 10 10 10% 6 100 107-7 7 7% 7 100 89 11 11 11% 8 100 83 17 17 17% 9 100 110-10 10 10% 10 100 113-13 13 13% 2.1 9.3 93%/10 =9.3% MFE MAD MAPE...
View Full Document

Page1 / 3

ForecastingError_and_accuracy_example - Demand Forecast...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online