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Evaluate the performance of the three methods

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Reference no: EM133041053

A company has used three different methods to forecast sales for the past five months.

(a) Use MAD and MSE to evaluate the performance of the three methods.

(Round your answers to 1 decimal place, e.g. 1.2.)

Period

Actual

Method A

Method B

Method C

1

12

10

7

8

2

7

11

11

12

3

13

13

10

7

4

7

14

5

13

5

10

15

14

7

 

MAD

MSE

Method A

enter the mean absolute deviation  

enter the mean squared error  

Method B

enter the mean absolute deviation  

enter the mean squared error  

Method C

enter the mean absolute deviation  

enter the mean squared error  

(b) Which of these is actually the naïve method?

Reference no: EM133041053

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