Question: The following table displays the actual demand and forecasts using two alternative methods for a six-month period. FORECAST Month Actual Method 1 Method 2 1

The following table displays the actual demand and forecasts using two alternative methods for a six-month period.

FORECAST

Month

Actual

Method 1

Method 2

1

161

152

154

2

163

164

155

3

151

163

151

4

162

161

152

5

156

163

152

6

164

163

154

Compute MSE for both methods. Using MSE as a criterion, which method has the better performance record and why?

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