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

Essay

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?
$$\begin{array} { | l | l | l | l | l | } \hline \text { Quarter } & \text { Actual } & \text { Forecast A } & \text { Forecast B } & \text { Forecast C } \\\hline 1 & 43 & 42 & 42 & 44 \\\hline 2 & 46 & 45 & 45 & 45 \\\hline 3 & 45 & 46 & 44 & 48 \\\hline 4 & 46 & 48 & 46 & 46 \\\hline 5 & 47 & 48 & 48 & 45 \\\hline 6 & 46 & 47 & 46 & 44 \\\hline\end{array}$$