Fill the blanks to calculate forecast errors.

Method $1$:

Period Actual Forecast $|$Error$|$ Error$^2(|$Error$|/$Actual$)*100$

$42321248\mathrm{.}70$

$520233915\mathrm{.}00$

$62624247\mathrm{.}69$

$725261$

Sum

n$=4$ n$-1=3$ n$=4$

MAD MSE MAPE

t y ty t

$2$

$113131$

$221424$

$319579$

$4239216$

$52010025$

$62615636$

$72517549$

$28147635140$

Spring $2024$ MGMT $431$: Exam $1$

Method $2$:

Period Actual Forecast $|$Error$|$ Error$^2(|$Error$|/$Actual$)*100$

$42324114\mathrm{.}35$

$5202441620\mathrm{.}00$

$626233911\mathrm{.}54$

$725241$

Sum

n$=4$ n$-1=3$ n$=4$

MAD MSE MAPE

d$.$ Based on forecast errors, which forecast method you would choose? Why?