forecasting model
1.) Aztec industries has developed a forecasting model that was used to forecast during a 10-month period . The forecasts and actual demand were as follows:
Month Actual demand Forecast demand
1 160 170
2 150 165
3 175 157
4 200 166
5 190 183
6 220 186
7 205 203
8 210 204
9 200 207
10 220 203
Measure the accuracy of the forecast by using MAD, MAPD, and cumulative error. Does the forecast seem to be accurate?