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The following represents the actual demand and two different sets of forecasts using different methods. Compute the MAD for each forecasting method and determine the
The following represents the actual demand and two different sets of forecasts using different methods. Compute the MAD for each forecasting method and determine the best method for this set of data.
Year-Qtr | Actual demand | Forecast methos 1 MAD1 (A-F) | Forecast Method 2 MAD2 (A-F) |
2020-3 | 98 | 97 | 89 |
2020-4 | 108 | 110 | 106 |
2021-1 | 83 | 68 | 70 |
2021-2 | 100 | 101 | 102 |
2021-3 | 95 | 86 | 87 |
2021-4 | 90 | 94 | 92 |
2022-1 | 71 | 68 | 72 |
2022-2 | 104 | 105 | 106 |
2022-3 | 84 | 91 | 88 |
2022-4 | 80 | 93 | 91 |
2023-1 | 78 | 68 | 70 |
2023-2 | 120 | 118 | 122 |
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