Question: I submitted this same question earlier and it was answered with just the answers. I need these worked out step-by-step. I also need to know
I submitted this same question earlier and it was answered with just the answers. I need these worked out step-by-step. I also need to know how to do it in Excel. Thank you
Sales for the past 12 months at Bell, Inc. are given in the table below. Two different forecasts, using two different techniques, were developed for April through December. This information is also provided in the table.
| Month | Sales | Forecast 1 | Forecast 2 |
| January | 10 | ||
| February | 12 | ||
| March | 14 | ||
| April | 16 | 16.67 | 12.31 |
| May | 18 | 19.33 | 13.41 |
| June | 23 | 22.00 | 14.79 |
| July | 26 | 26.17 | 17.25 |
| August | 31 | 31.33 | 19.88 |
| September | 27 | 36.67 | 23.21 |
| October | 18 | 38.50 | 24.35 |
| November | 16 | 32.17 | 22.45 |
| December | 14 | 24.50 | 20.51 |
Calculate the mean absolute deviation (MAD) for both forecasts (for April through December only). Which forecast is most accurate, based on the MAD? Show all work (excel) and computations, then state your conclusion.
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