Problem 3-31 (LO7) Two different forecasting techniques were used to forecast demand for cases of bottled water in a store. Actual demand and the two sets of forecasts for seven periods are as follows: Forecast Demand Period 1 2 3 4 Demand 66 73 70 72 67 70 73 F1 69 69 70 70 F2 68 71 67 67 69 72 71 5 71 71 6 7 71 a-1. Calculate the MAD for each set of forecasts. (Round the final answers to 2 decimal places.) F1 F2 a-2. Which technique appears to be more accurate? F1 b-1. Calculate the MSE for each set of forecasts. (Round the final answers to 2 decimal places.) F1 F2 b-2. Which technique appears to be more accurate? (Click to select) c-1. Calculate the MAPE for each set of forecasts. (Round the final answers to 2 decimal places.) F1 % % F2 c-2. Which technique appears to be more accurate? (Click to select) v d-1. Do all three of forecast errors provide the same conclusion (i.e., are they consistent) in this case? (Click to select) d-2. Do you expect consistent results in every case? (Click to select) (Click to select) will have lower MSE than (Click to select) if obs 7 for F1 was 76. . e. In practice, either MAD, MSE, or MAPE would be employed to compute a measure of forecast errors. What factors might lead a manager to favour one? MAD MSE MAPE (Click to select) (Click to select) (Click to select)