$\text { XYZ Company - Annual data }$
$\begin{array} { c c }
\text { Actual Demand } & \text { Forecasted Demand } \
15 & 14 \
15 & 16 \
17 & 18 \
18 & 20 \
20 & 22 \
21 & 24
\end{array}$
-Based on the information given in the table above,what is the MAPE?
A)41.28
B)9.10
C)-41.28
D)-9.10
E)1.33

Question

$\text { XYZ Company - Annual data }$
$\begin{array} { c c } 
\text { Actual Demand } & \text { Forecasted Demand } \
15 & 14 \
15 & 16 \
17 & 18 \
18 & 20 \
20 & 22 \
21 & 24
\end{array}$
-Based on the information given in the table above,what is the MAPE?
A)41.28
B)9.10
C)-41.28
D)-9.10
E)1.33

Quizplus · Accepted Answer

The Mean Absolute Percentage Error (MAPE) is calculated as the average of the absolute errors divided by the actual values, expressed as a percentage. The formula for MAPE is $\frac{1}{n}\sum_{i=1}^{n}\left|\frac{A_i - F_i}{A_i}\right| \times 100$, where $A_i$ is the actual demand, $F_i$ is the forecasted demand, and $n$ is the number of data points.For the given data:$$\begin{align*}\text{MAPE} &= \frac{1}{6}\left(\left|\frac{15-14}{15}\right| + \left|\frac{15-16}{15}\right| + \left|\frac{17-18}{17}\right| + \left|\frac{18-20}{18}\right| + \left|\frac{20-22}{20}\right| + \left|\frac{21-24}{21}\right|\right) \times 100 \&= \frac{1}{6}\left(\frac{1}{15} + \frac{1}{15} + \frac{1}{17} + \frac{2}{18} + \frac{2}{20} + \frac{3}{21}\right) \times 100 \&\approx \frac{1}{6}\left(0.0667 + 0.0667 + 0.0588 + 0.1111 + 0.1 + 0.1429\right) \times 100 \&\approx \frac{1}{6} \times 0.5462 \times 100 \&\approx 9.10\%\end{align*}$$Therefore, the MAPE is approximately 9.10%.

XYZ Company - Annual data \text { XYZ Company - Annual data } XYZ Company - Annual data -Based on the Information Given in the Table Above,what Is

$\text { XYZ Company - Annual data }$ -Based on the Information Given in the Table Above,what Is