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Management Science: Chapter 7 Powerpoint
Management Science: Chapter 7 Powerpoint
POWELL
KENNETH R. BAKER
actual
• MAD: the Mean Absolute v
Deviation between forecast 1
MAD = Ft xt
(u v 1) t u
and actual
• MAPE: the Mean Absolute
Percent Error between 1 v
Ft xt
forecast and actual MAPE =
(u v 1) t u xt
Ft+1 = St + Tt