Homework Answers
| n=6 | ||||||||
| Columns | B | C | D | |||||
| Actual | Forecast | Error | Abs (Error) | Abs (Error)/Actual | ||||
| 1008 | 1061 | -53 | 53 | 0.052579365 | ||||
| 972 | 1042 | -70 | 70 | 0.072016461 | ||||
| 923 | 910 | 13 | 13 | 0.014084507 | ||||
| 1059 | 1014 | 45 | 45 | 0.042492918 | ||||
| 1137 | 1127 | 10 | 10 | 0.008795075 | ||||
| 991 | 1035 | -44 | 44 | 0.044399596 | ||||
| Sum | 6090 | 6189 | -99 | 235 | 0.234367922 | |||
| MAD=Sum(Column C)/n | ||||||||
| (235/6) | = | 39.16667 | ||||||
| MAPE=(Sum(Column D)*100)/n | ||||||||
| (0.234368*100)/6 | = | 3.906132 | ||||||
| MFE=Sum(Column B)/n | ||||||||
| (-99/6) | = | -16.5 | ||||||
| Overforecasted (Since Sum of Forecast is more than sum of actual) | ||||||||
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