Question 7 When compared to forecasting model F1 based on MAD, the forecasting model F2 ... O provides a more accurate forecast for this dataset, O provides a less accurate forecast for this dataset. O provides a forecast of the same level of accuracy for this dataset. Question 8 When compared to forecasting model F1 based on MAPE, the forecasting model F2... O is slightly more accurate for this dataset, O is much more accurate for this dataset. O is slightly less accurate for this dataset. O is much more accurate for this dataset. provides an identical level of forecast accuracy for this dataset, Homework - Moving Average Forecasts Forecast 1 (F1) Absolute Error F1 Absolute % Error Forecast 2 Absolute Absolute F1 (F2) Error F2 % Error F2 Error F1 Round to decimals with ROUND function in this column Round to 4 Round to Round to 4 decimals with decimals with decimals with Use Ass function ROUND function ROUND function Use ABS function ROUND function In this column in this column in this column In this column In this column Actual Year Month Demand 2020 Jan 500 2020 Feb 450 2020 Mar 475 2020 Apr 575 2020 May 460 2020 Jun 480 2020 Jul 500 2020 Aug 510 2020 Sep 600 2020 Oct 515 2020 Nov 465 2020 Dec 505 2021 Jan 495 Enter Means above, round Enter CF to decimals above Enter MAD above, o dec. Enter MAPE Enter Sum above above Enter MAD abave, o dec. Enter MAPE above You want to compare accuracy of two types of 3-month moving average forecasts of sales for a machine part. Based on the above data, calculate a simple 3-month moving average (forecast 1). Then calculate a weighted 3-month moving average (forecast 2). In forecast 2, the sales of the most recent month, i.e "one month ago," have double the weight of any of the two preceding months, i.e. "two months ago" and "three months ago. Tip: you will need to flex your analytical abilities by creating and solving an equation for weights first, keeping in mind that all weights must add up to 1. Calculate forecast errors and make a conclusion about the relative accuracy of one method over the other for this data set based on MAD and mean absolute percentage error (MAPE). Use formulas in all cells, including the ROUND formula to round to integer number of units and the ABS formula for absolute numbers where applicable. Color legend: Test your answers in these cells in the Help Tool, unlimited attempts Enter final answers in these cells in the final quiz when ready Note on rounding of values expressed in percent, such as MAPE: If your formula looks like a/b and then you click on the X icon in the menu to display the value in %, round to 4 decimals. If you use the formula a/b 100, then round to 2 decimals