Question: Two different forecasting techniques ( F1 and F2 ) were used to forecast demand for cases of bottled water. Actual demand and the two sets

 Two different forecasting techniques ( F1 and F2 ) were used
to forecast demand for cases of bottled water. Actual demand and the
two sets of forecasts are as follows. Slick here for the Excel

Two different forecasting techniques ( F1 and F2 ) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows. Slick here for the Excel Dora File a. Compute MAD for each set of forecasts. Given your results, which forecast oppears to be more accurate? (Round your answers to 2 decimal places.) 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.) b. Compune the MSE for each set of forecasts. Given your resulis, which forecast oppears 10 be more accurate? (Round your answers to 2 decimal piaces.) c. In practice, einther MAD or MSE wouid be empioyed to compute forecost errors, What factors might fead a manager to choose one rather than the other

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!