engineering recuitment ISRO Scientist Mechanical Mock Test Industrial Engineering Production Planning and Inventory Control Forecasting
The actual and forecasted demands of a product are as follows:
|
Period |
1 |
2 |
3 |
4 |
5 |
|
Actual demand |
180 |
170 |
165 |
170 |
200 |
|
Forecasted demand |
190 |
190 |
190 |
190 |
190 |
The forecast error measured in terms of mean absolute deviation (MAD) and mean absolute percentage error (MAPE), respectively, are
1
13 and 7.84%
2
13 and 9.85%
3
17 and 7.84%
4
17 and 9.85%