Question: Two different forecasting techniques ( F 1 and F 2 ) were used to Please sole ASAP.forecast demand for cases of bottled water. Actual demand

Two different forecasting techniques (F1 and F2) were used to Please sole ASAP.forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows:
PREDICTED DEMAND
Period Demand F1 F2
1686061
2756568
3707370
4747173
5697174
6726578
7807075
8787680
Click here for the Excel Data File
a. Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.)
b. Compute the MSE for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.)
c. In practice, either MAD or MSE would be employed to compute forecast errors. What factors might lead a manager to choose one rather than the other?
d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations to 2 decimal places and and final answers to 2 decimal places.)

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