FORECASTING ERRORS Part 1 Now that you have a little time you want to assess the quality of your forecasting Forecast E Demand 50 53 41 43 47 48 39 51 52 Time 1 Time 2 Time 3 Time 4 Time 5 Time 6 Time 7 Time 8 Time 9 Time 10 54 56 58 48 61 49 47 51 53 58 61 Q1. calculate the forecasting error for each period Q2. calculate the cumulative forecasting error Q3. what bias does the CFE suggest regarding your forecast CFE Part II You would like to know what the mean absolute deviation is Show at least one decimal point Demand Forecast E El Time 1 50 53 Time 2 43 41 Time 3 47 39 Time 4 48 51 Time 5 54 52 Time 6 56 48 Time 7 58 61 Time 8 49 47 Time 9 51 53 Time 10 58 61 MAD Part III You would like to know the percentage of your forecasting error show at leat one decimal point Forecast E TEL ABS % E Demand 50 53 43 41 47 39 48 51 54 52 Time 1 Time 2 Time 3 Time4 Time 5 Time 6 Time 7 Time 8 Time 9 Time 10 56 48 58 61 49 47 53 51 58 61 MAPE