Question: Problem 3. ABC company is experimenting with two forecasting methods for its product. Table 2 gives the actual sales and the forecasts obtained by the

Problem 3. ABC company is experimenting with two

Problem 3. ABC company is experimenting with two forecasting methods for its product. Table 2 gives the actual sales and the forecasts obtained by the two methods during the past 6 months. (a) Calculate MAD, MSE, and BIAS for the two methods. (b) Calculate and plot the tracking signals for the two methods. () Are the methods under-forecasting or over-forecasting? Which method would you recommend for forecasting future sales and why? Table 2 Sales Data and Forecasting Results | Month 541 1 2 3 4 5 6 Actual Sales Forecast-1 558 532 490 576 520 632 550 515 575 610 590 Forecast-2 521 538 546 542 555 575

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