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The following actual demand and forecast values are given for the past four periods. We want to calculate MAD, MSE and MAPE for this forecast
The following actual demand and forecast values are given for the past four periods. We want to calculate MAD, MSE and MAPE for this forecast to see how well it is doing. | The following actual demand and forecast values are given for the past four periods. We want to calculate MAD, MSE and MAPE for this forecast to see how well it is doing. | |||||||||||||||||||||
Note that Abs (et) refers to the absolute value of the error in period t (et). | Note that Abs (et) refers to the absolute value of the error in period t (et). | |||||||||||||||||||||
Period | Actual Demand | Period | Actual Demand | Abs (et) | et2 | [Abs (et) / Dt] x 100% | ||||||||||||||||
1 | 56 | 111 | 166 | |||||||||||||||||||
2 | 58 | 114 | 170 | |||||||||||||||||||
3 | 54 | 105 | 156 | |||||||||||||||||||
4 | 65 | 126 | 187 | |||||||||||||||||||
Calulation: | ||||||||||||||||||||||
MAD | ||||||||||||||||||||||
MSE | ||||||||||||||||||||||
MAPE | ||||||||||||||||||||||
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