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1. Consider monthly demand for the ABC Corporation, as shown in Table 7.3. Forecast the monthly demand for Year 6 using the static method for forecasting. Evaluate the bias, TS, MAD, MAPE, and MSE. Evaluate the quality of the forecast 5,000 TABLE 7-3 Monthly Demand for ABC Corporation Sales Year 1 Year 2 Year 3 Year 4 January 2,000 3,000 2,000 February 3,000 4,000 5,000 4,000 March 3,000 3,000 5,000 4,000 April 3,000 5,000 3,000 2,000 May 4,000 5,000 4,000 5,000 June 6,000 8,000 6,000 7,000 July 7,000 3,000 7,000 10,000 August 6,000 8,000 10,000 14,000 September 10,000 12,000 15,000 16,000 October 12,000 12,000 15,000 16,000 November 14,000 16,000 18,000 20,000 December 8,000 10,000 8,000 12,000 Total 78,000 89,000 98,000 115,000 Year 5 5,000 2,000 3,000 2,000 7,000 6,000 8,000 10,000 20,000 20,000 22,000 8,000 113,000