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Management Studies

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

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.

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92695016

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