Exercise #2-Calculating MAD, Revised MADt.Error,and the Revised Error :Has the Forecast Improved ? How much has it improved in % terms? Franklin Henry forecasts demand for an auditing and accounting services group, for an estate planning group, and a business consulting group. His group forecasts for the preceding six-month(M) period, which were made six months prior to that time, are each based on a level, pattern less projection. The following data table shows these forecasts(F) and the actual demand (AD) for each group: Estate Planning Business Consulting Auditing and Accounting (Client-days) (Client-days) (Client-days) M AD F M AD F M AD F 1 120 130 1 260 230 1 120 120 2 80 130 2 240 230 2 140 120 3 100 130 3 270 230 3 170 120 4 120 130 4 320 230 4 190 120 5 125 130 5 290 230 5 230 120 6 110 130 6 200 230 6 210 120 Calculate the Forecast error (FE), MAD, Revised Forecast, Revised Error, and Revised |MAD. Has the FE improved(decreased) ? What is the % improvement for each forecast