Question: 2.5 points Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months. The forecasts and

2.5 points Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months. The forecasts and actual sales are as follows: Skipped Month 1 2 3 3 4 5 6 7 8 9 10 Sales 835 835 800 835 790 845 815 845 805 830 Forecast 1 825 810 815 795 810 800 815 810 785 860 Forecast 2 795 825 820 800 795 801 805 845 795 840 eBook Print References a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.) MSE MAD Forecast 1 Forecast 2 2 b. Compute MAPE for each forecast. (Round your intermediate calculations to 5 decimal places and final answers to 4 decimal places.) MAPE F1 MAPE F2 % %
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
