Question: Two different forecasting techniques were used to forecast demand for cases of bottled water in a store. Actual demand and the two sets of
Two different forecasting techniques were used to forecast demand for cases of bottled water in a store. Actual demand and the two sets of forecasts for seven periods are as follows: Forecast Demand Period Demand F1 F2 1 66 69 69 2 75 70 72 3 69 70 70 4 71 71 68 5 68 71 71 6 71 72 69 7 74 72 71 a-1. Calculate the MAD for each set of forecasts. (Round the final answers to 2 decimal places.) F1 F2 a-2. Which technique appears to be more accurate? (Click to select) b-1. Calculate the MSE for each set of forecasts. (Round the final answers to 2 decimal places.) F1 F2
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