A manager wants to choose one of two forecasting alternatives.Each alternative was tested using historical data.The resulting forecast errors for the two are shown in the table.Analyze the data and recommend a course of action to the manager.
Definitions:
Interest Rates
The percentage of a sum of money charged for its use, typically by a bank to borrowers.
Profit Expectations
Anticipations or forecasts about the profits a business aims to achieve in a future period.
Loanable Funds
The loanable funds market is a concept in economics where the supply of and demand for loans determine the interest rate, including all forms of credit like loans, bonds, or savings deposits.
Savings
The portion of disposable income not spent on consumption of goods and services, set aside for future use or emergencies.
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