Question: I need help please Check Problem 3-21 (Algo) Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water.
I need help please
Check Problem 3-21 (Algo) 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 1 2 3 NMON Demand 68 75 70 74 69 72 BO 78 PREDICTED DEMAND F2 61 60 67 66 75 70 69 74 72 67 78 74 78 76 80 Click here for the Excel Dato File o. 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 O II 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 F2 appears to be more accurate o RI mework Saved Help Save & Exit Submi Check my work c. In practice, either MAD or MSE would be employed to compute forecast errors. What factors might lead a manager to choose one rather than the other? Either one might already be in use, familiar to users, and have past values for comparison. If control charts are used, MSE would be natural tracking signals unod d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations to 2 decimal places and and final answers to 2 decimal places.) MAPE F1 MAPE F2 104 1781 i Search


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