31. Two different forecasting techniques were used to forecast demand for cases of bottled water in a store. Actual demand and the two sets of forecasts for seven periods are as follows: @LO7 Forecast Demand Period Demand F1 F2 1 68 66 66 2. 75 68 68 3 70 72 70 4 74 71 72 5 69 72 74 6 72 70 76 7 80 71 78 a. Calculate the MAD for each set of forecasts. Which technique appears to be more accurate? b. Calculate the MSE for each set of forecasts. Which technique appears to be more accurate? a. Calculate the MAD for each set of forecasts. Which technique appears to be more accurate? b. Calculate the MSE for each set of forecasts. Which technique appears to be more accurate? c. Calculate the MAPE for each set of forecasts. Which technique appears to be more accurate? d. Do all three measures of forecast errors provide the same conclusion (i.e., are they consistent) in this case? Do you expect consistent results for every case? Explain. e. In practice, either MAD, MSE, or MAPE would be employed to compute a measure of forecast errors. What factors might lead a manager to favour one