Question: Problem 4. Two forecasting methods have produced the following forecast for the past ve months. Actual Forecast 1 Forecast 2 . 10 1 1 9

Problem 4. Two forecasting methods have produced the following forecast for the past ve months. Actual Forecast 1 Forecast 2 . 10 1 1 9 8 10 7 10 8 1 1 6 6 7 9 8 10. a) Compute all three popular measures of forecast accuracy for the Forecast l.(0 .5 pt) 13) Compute all three popular measures of forecast accuracy for the Forecast 2.(0 .5 pt) 0) Based on the results for MAD (mean absolute deviation) statistics which forecast method do you recommend? (.5 pt)

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