Two Forecasting Models Were Used to Predict the Future Values

question 94

Essay

Two forecasting models were used to predict the future values of a time series.The forecasts are shown below with the actual values. Calculate the mean squared deviation (MSD)for Model 2

---

Definitions:

Product Availability

The extent to which goods are in stock and readily accessible for purchase by consumers.

Measures

Quantitative or qualitative assessments used to evaluate performance, quality, or quantity of something.

Supplier Lead Time

The time duration between when an order is placed with a supplier and when the ordered goods are actually received, critical for inventory management and planning.

Safety Inventory

Extra stock kept on hand to buffer against potential supply chain disruptions, ensuring that demand can be met without delay.