Complete PART (b) ONLY. Please use answer from Part (a). Please complete this using EXCEL; SHow the steps/ excel calculations.

Month	Actual Demand
1	62
2	65
3	67
4	68
5	71
6	73
7	76
8	78
9	78
10	80
11	84
12	85

(a)

Calculate the Simple three-month moving average forecast for periods 4-12

part (a) ANSWER:

Forecast

64.667

66.667

68.667

70.667

73.333

75.667

77.333

78.667

80.667

(b) Now calculate all the measures of forecasting accuracy listed below for the simple three-month moving average forecast completed in part (a)

-i) MAPE (Mean Absolute Percent Error)

- ii) MSE (Mean squared error)

FORMULAS:

Mean Squared Error (MSE) MSE - E (Forecast Errors)2 Mean Absolute Percent Error (MAPE) 100|Actual,- Forecast/Actual MAPE = 1=1