Find three months weighted moving averages by assuming the weights, W1 =1, W2 = 0.4 and W3 = 0.5 ii. Compute the mean forecast error iii. Compute the mean square error (MSE) iv. Compute the mean absolute deviation (MAD). v. Mean absolute percent error (MAPE)
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The actual demand of a product for six months are summarized in the table below:
|
Month (t) |
Demand Dt |
|
|
|
|
1 |
80 |
|
2 |
90 |
|
3 |
70 |
|
4 |
100 |
|
5 |
70 |
|
6 |
90 |
|
|
|
- Find three months weighted moving averages by assuming the weights, W1 =1, W2 = 0.4 and W3 = 0.5
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|
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|
ii. |
Compute the mean |
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iii. |
Compute the mean square error (MSE) |
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|
iv. |
Compute the mean absolute deviation (MAD). |
|
|
v. |
Mean absolute percent error (MAPE) |
|
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