Problem 3-21 (Static) Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: Period 1 2 3 4 5 6 2 8 Demand 68 75 70 74 69 72 80 78 PREDICTED DEMAND F1 F2 66 66 68 68 72 70 71 72 72 74 79 76 71 78 74 80 Click here for the Excel Data File Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 1 decimal place.) MAD F1 MAD F2 appears to be more accurate, 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 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? Either one might already be in use, familiar to users, and have past values for comparison. If are used, MSE would be natural; if are used, MAD would be more natural