Problem 3-21 (Algo) Two different forecasting techniques (Fland F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: PREDICTED DEMAND Period Demand F1 F2 1 68 65 62 2 75 65 65 3 70 74 70 4 74 69 71 5 69 72 76 6 72 68 74 7 80 73 75 8 78 75 82 UWONO Click here for the Excel Data File a. Compute MAD for each set of forecasts, Glven your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.) 4.88 MAD F1 MAD F2 4.63 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 MSE F2 33.29 34.14 F1 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? Ether one might already be in use, familiar to users, and have past values for comparison. If control charts are used, MSE would be naturali d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations to 2 decimal places and and final answers to 2 decimal places.) MAPE F1 MAPE F2 % %