Question: A company uses two different forecasting models to forecast future sales. t Actual Sales Forecast 1 Forecast 2 1 15 2 13 3 16 4

A company uses two different forecasting models

A company uses two different forecasting models to forecast future sales. t Actual Sales Forecast 1 Forecast 2 1 15 2 13 3 16 4 18 15.5 14.9 5 14 15.3 14.9 6 11 14.8 15.6 7 17 15.0 13.3 [hint: You are able to measure errors only for periods where both actual and forecast values are available.) (1) What is the MAD for Forecast 1 (two decimal places)?| (2) What is the MSE for Forecast 2 (two decimal places)? (3) What is the MAPE for Forecast 2 (one decimal place)? % (remember to answer in terms of %)

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