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Solution Library
Using Mean Absolute Percent Error MAPE for Accurate Sales Forecasting
Question
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Year |
|
1988 |
1989 |
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1990 |
1991 |
1992 |
1993 |
1994 |
1995 |
1996 |
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Sales |
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328 |
463 |
|
543 |
481 |
514 |
687 |
839 |
861 |
1145 |
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Year |
1997 |
1998 |
1999 |
2000 |
2001 |
2002 |
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2003 |
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2004 |
2005 |
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Sales |
1071 |
1271 |
1288 |
1353 |
1591 |
1485 |
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1625 |
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1807 |
1713 |
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Year |
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2006 |
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2007 |
2008 |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
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Sales |
|
1920 |
|
2135 |
2053 |
2137 |
2383 |
2390 |
2540 |
2783 |
2900 |
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Use Mean Absolute Percent Error (MAPE) to determine whether simple linear regression or simple moving average is more accurate in forecasting sales, making sure to clearly show the MAPE values for the two forecasts.
Summary
This question belongs to statistics and discusses about simple linear regression.
Word count: NA
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