Question: Please list formulas or rationale! Thank You! PROBLEM 1 STATEMENT Suppose that the marketing department made their forecast for the entire year (12 months) of

Please list formulas or rationale! Thank You!

Please list formulas or rationale!

Thank You!

PROBLEM 1 STATEMENT Suppose that the marketing department made their forecast for the entire year (12 months) of 2017. They supply the monthly forecast as well as observed demand as follows: Month-Year (t) Forecast (FL) Demand (DE) January-17 572256 604000 February-17 575430 278500 March-17 545737 707500 April-17 561914 165000 May-17 506222 114000 June-17 467000 190500 July-17 439350 77500 August-17 403165 911000 September-17 453948 334000 October 17 441954 773500 November-17 475108 236000 December-17 428197 535005 Question 1 The Average Forecast Error is: (Hint: please round your answer to the whole number.) Question 2 The Mean Absolute Deviation (MAD) is: (Hint: please round your answer to the whole number.) Question 3 The Mean Absolute Percentage Error is: % (Hint: please round your answer to the whole number.)

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