A daily magazine stand contractor has newspaper stands along various stations on a train route. The...

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A daily magazine stand contractor has newspaper stands along various stations on a train route. The demand for magazines is normally distributed and comes from three different forecasting models. forecast Mean Std MSE MAD MAPE model 1 1200 150 50 30 5% 2 1250 200 60 30 5% 3 1250 150 50 30 5% Note you have to decide which forecast model to use and why. For each magazine $1.50 Cost to acquire $5.00 Selling price The daily magazine has to be recycled if not sold. $0.25 recycling revenue per magazine z value table is given for your calculation 1. What Foreasting model did you choose and why? 2. What is the optimal number of magazine should the contractor order? A daily magazine stand contractor has newspaper stands along various stations on a train route. The demand for magazines is normally distributed and comes from three different forecasting models. forecast Mean Std MSE MAD MAPE model 1 1200 150 50 30 5% 2 1250 200 60 30 5% 3 1250 150 50 30 5% Note you have to decide which forecast model to use and why. For each magazine $1.50 Cost to acquire $5.00 Selling price The daily magazine has to be recycled if not sold. $0.25 recycling revenue per magazine z value table is given for your calculation 1. What Foreasting model did you choose and why? 2. What is the optimal number of magazine should the contractor order?