Question: Part 3: Answer the questions below (forecast errors below are based on different data than that shown above) Forecast A Forecast B Forecast C CFE

Part 3: Answer the questions below (forecast errors below are based on different data than that shown above)
Forecast A Forecast B Forecast C
CFE 22 -2.2 15
MAD 11.5 14.5 12.6
MSE 177 149 -156
MAPE 0.11 0.21 0.16
Question 1: Which measure of forecast error is incorrect. Identify the mistake by indicating both
the measure of forecast error and the specific forecast (A, B, or C)
Question 2: Which forecast (A, B, or C) has the largest squared errors?
Question 3: Which forecast (A, B, or C) is the least 'biased'?

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