Question: Need help with question B Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and

Need help with question B Two differentNeed help with question B

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 4 5 6 7 8 Demand 68 75 70 74 69 72 80 78 PREDICTED DEMAND F1 F2 61 66 72 66 73 70 70 73 75 77 67 73 72 76 75 80 a. Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal place.) MAD F1 4.88 MAD F2 3.38 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 27.13 x MSE F2 21.38 x F2 appears to be more accurate. 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

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