Question: please show all work in excel 5. The forecasts generated by three forecasting methods and actual demand for the Tor- rance Company are as follows:
5. The forecasts generated by three forecasting methods and actual demand for the Tor- rance Company are as follows: MONTH DEMAND FORECAST 1 FORECAST 2 FORECAST 3 12 3 269 289 294 278 268 269 275 266 290 284 270 768 268 787 292 298 274 270 RRRRR Compute the MSE and MAD for each forecasting method. Which forecasting method is the best? Would your decision on which forecasting method performs better depend on which forecasting accuracy measure (MAD or MSE) is selected
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