Question: 5 The forecasts generated by three forecasting methods and actual demand for the Torrance Company are as follows: MONTH DEMAND FORECAST 1 FORECAST 2 FORECAST

5 The forecasts generated by three forecasting methods and actual demand for the Torrance Company are as follows: MONTH DEMAND FORECAST 1 FORECAST 2 FORECAST 3 1 269 275 268 280 2 289 266 287 295 3 294 290 292 290 4 278 284 298 280 5 268 270 274 270 6 269 268 270 260 Compute the MSE and MAD for each forecasting method. Which forecasting method is the best? Would your decision on which forecasting method performs better depend on which forecasting accuracy measure (MAD or MSE) is selected

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