Problema convenience store posted the following figures for, Ask an Expert

Management Studies

Problem:

A convenience store posted the following figures for gasoline sales in gallons over the past 4 days compared to its forecasted sales using two different forecast methods:

DAY ACTUAL SALES FORECAST 1 FORECAST 2

1 600 610 570

2 590 620 625

3 570 600 560

4 635 590 615

Required:

Using MAPE as the accuracy measure, which forecast is "best". You must show your work. Solve the given numerical problem and illustrate step by step calculation.

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91148298

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