Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: PREDICTED DEMAND Period Demand F1 F2 1 68 61 60 2 75 67 66 3 70 75 70 4 74 69 67 5 69 74 72 6 72 67 78 7 80 74 78 8 78 76 80 b. Compute the MSE for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.) MSE F1 32.63 MSE F2 30.90 d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations tom decimal places and and final answers to 2 decimal places.) MAPE F1 % MAPE F2 %

Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: PREDICTED DEMAND Period Demand F1 F2 1 68 61 60 2 75 67 66 3 70 75 70 4 74 69 67 5 69 74 72 6 72 67 78 7 80 74 78 8 78 76 80 b. Compute the MSE for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.) MSE F1 32.63 MSE F2 30.90 d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations tom decimal places and and final answers to 2 decimal places.) MAPE F1 % MAPE F2 %

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter7: Distance And Approximation

Section7.3: Least Squares Approximation

Problem 31EQ

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