You are a general manager and you are provided with the actual sales and the forecasts of three different forecasting techniques for the last 6 quarters. What measure can we use to decide which of the forecasting technique is best? Which of the following provides the most accurate forecasts?
$$\begin{array} { | l | l | l | l | l | }
\hline \text { Quarter } & \text { Actual } & \text { Forecast A } & \text { Forecast B } & \text { Forecast C } \
\hline 1 & 43 & 42 & 42 & 44 \
\hline 2 & 46 & 45 & 45 & 45 \
\hline 3 & 45 & 46 & 44 & 48 \
\hline 4 & 46 & 48 & 46 & 46 \
\hline 5 & 47 & 48 & 48 & 45 \
\hline 6 & 46 & 47 & 46 & 44 \
\hline
\end{array}$$

Question

You are a general manager and you are provided with the actual sales and the forecasts of three different forecasting techniques for the last 6 quarters. What measure can we use to decide which of the forecasting technique is best? Which of the following provides the most accurate forecasts?
 $$\begin{array} { | l | l | l | l | l | } 
\hline \text { Quarter } & \text { Actual } & \text { Forecast A } & \text { Forecast B } & \text { Forecast C } \
\hline 1 & 43 & 42 & 42 & 44 \
\hline 2 & 46 & 45 & 45 & 45 \
\hline 3 & 45 & 46 & 44 & 48 \
\hline 4 & 46 & 48 & 46 & 46 \
\hline 5 & 47 & 48 & 48 & 45 \
\hline 6 & 46 & 47 & 46 & 44 \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of You are a general manager and you are provided with the actual sales and the forecasts of three different forecasting techniques for the last 6 quarters. What measure can we use to decide which of the forecasting technique is best? Which of the following provides the most accurate forecasts?
 $$\begin{array} { | l | l | l | l | l | } 
\hline \text { Quarter } & \text { Actual } & \text { Forecast A } & \text { Forecast B } & \text { Forecast C } \
\hline 1 & 43 & 42 & 42 & 44 \
\hline 2 & 46 & 45 & 45 & 45 \
\hline 3 & 45 & 46 & 44 & 48 \
\hline 4 & 46 & 48 & 46 & 46 \
\hline 5 & 47 & 48 & 48 & 45 \
\hline 6 & 46 & 47 & 46 & 44 \
\hline
\end{array}$$

You Are a General Manager and You Are Provided with the Actual