QUESTION 3 Table 1 shows the result of different error measures of forecasting values for clinical gloves demand based o

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Question 3 Table 1 Shows The Result Of Different Error Measures Of Forecasting Values For Clinical Gloves Demand Based O 1 (65.39 KiB) Viewed 48 times

QUESTION 3 Table 1 shows the result of different error measures of forecasting values for clinical gloves demand based on the past 12 months data. Table 1 MAD MAPD E 4.85 10.3 4.48 4.04 8.5 Exponential Smoothing (a = 0.3) Exponential Smoothing (a = 0.5) Adjusted Exponential Smoothing (a = 0.5, B = 0.3) Linear Trend 3.02 3.80 8.1 1.92 2.29 4.9 a) State two (2) importance of measuring error in forecasting. (2 <s) b) Suggest three (3) conclusions that can be obtained from the above table. (3 marks)