Question: Could you help explain and answer the following question? Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled

Could you help explain and answer the following question?

Could you help explain and answer the following

Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: Period Demand 1 68 2 75 3 70 4 74 5 69 6 72 7 80 8 78 PREDICTED DEMAND F1 F2 67 65 67 66 73 70 69 69 72 72 66 73 70 75 77 81 Click here for the Excel Data File a. Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.) MAD F1 MAD F2 appears to be more accurate. b. Compute the MSE for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.) MSE F1 MSE F2 appears to be more accurate

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