Question: 6) Two forecasting methods have been used to evaluate the same economic time series. Compute MAD, MSE, and the MAPE. Then, compare the forecasted results

6) Two forecasting methods have been used to

6) Two forecasting methods have been used to evaluate the same economic time series. Compute MAD, MSE, and the MAPE. Then, compare the forecasted results with the Realized Value. Which of the measures (i.e., MAD, MSE, and the MAPE). seem to show the best performance? Method 1 (Forecast) Method 2 (Forecast) Realized Value (Actual) 223 230 244 289 265 305 385 403 393 415 595 502 535 405 459 425 421 388 7) Determine the one-step-ahead forecasts for the demand for January 2022 using 3, 6, and 12-month moving averages. Month Demand Month Demand January 95 July 235 February 99 August 296 March 150 September 225 April 225 October May 179 November 199 June 285 December 332 284

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