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The formula for the forecast error, is calculated by using the equation: Actual demand for period t minus the forecasted demand for period t Actual

The formula for the forecast error, is calculated by using the equation:

Actual demand for period

t

minus the forecasted demand for period

t

Actual demand for period

t

divided by the forecasted demand for period

t

Actual demand for period

t

plus the forecasted demand for period

t

The average of Actual demand for period

t

and forecasted demand for period

t

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