[Step-by-Step] Suppose sales data for year 7 quarters 1,2,3 and 4 are 262, 392, 321, and 305 respectively. Compare your forecasts from 8,12, and 13 by using
Question: Suppose sales data for year 7 quarters 1,2,3 and 4 are 262, 392, 321, and 305 respectively. Compare your forecasts from 8,12, and 13 by using mean absolute error. Which method is the best? Now compare your forecasts from 8,12, and 13 by using mean squared error. Which method is the best? Finally, compare your forecasts from 8,12, and 13 by using mean absolute percentage error. Which method is the best?
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![[Steps Shown] You may now wish to](/images/solutions/MC-solution-library-32226.jpg "[Steps Shown] You may now wish to modify the dataset into two")
[Steps Shown] You may now wish to modify the dataset into two
(See Steps) Generate seasonal indexes for the four quarters using
![[See Solution] Adjust the seasonal indexes generated](/images/solutions/MC-solution-library-32228.jpg "[See Solution] Adjust the seasonal indexes generated so that the")
[See Solution] Adjust the seasonal indexes generated so that the
(Solution Library) Generate a scatterplot of your modified dataset
![[Step-by-Step] Generate a simple linear regression of](/images/solutions/MC-solution-library-32230.jpg "[Step-by-Step] Generate a simple linear regression of the form:")
[Step-by-Step] Generate a simple linear regression of the form:
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