Ed Rogers owns an appliance store. Sales data on a particular model of a DVD player for the past six months are shown below, along with the results of two different forecasting models: Month Sales Forecast 1 Forecast 2 Jan 35 30 33 Feb 29 28 32 Mar 39 43 35 Apr 42 40 45 May 51 48 52 Jun 56 55 52 Which is the better forecasting model, based on the MAD criterion?
Ed Rogers owns an appliance store. Sales data on a particular model of a DVD player for the past six months are shown below, along with the results of two different forecasting models: Month Sales Forecast 1 Forecast 2 Jan 35 30 33 Feb 29 28 32 Mar 39 43 35 Apr 42 40 45 May 51 48 52 Jun 56 55 52 Which is the better forecasting model, based on the MAD criterion?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.6: Moving Averages Models
Problem 22P: The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six...
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Ed Rogers owns an appliance store. Sales data on a particular model of a DVD player for the past six months are shown below, along with the results of two different
Month |
Sales |
Forecast 1 |
Forecast 2 |
Jan |
35 |
30 |
33 |
Feb |
29 |
28 |
32 |
Mar |
39 |
43 |
35 |
Apr |
42 |
40 |
45 |
May |
51 |
48 |
52 |
Jun |
56 |
55 |
52 |
Which is the better forecasting model, based on the MAD criterion?
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