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 forecasts

Two different forecasting techniques were used to

Two different forecasting techniques were used to

Two different forecasting techniques were used to

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: a-1. Calculate the MAD for each set of forecasts. (Round the final answers to 2 decimal places.) a-2. Which technique appears to be more accurate? b-1. Calculate the MSE for each set of forecasts. (Round the final answers to 2 decimal places.) b-2. Which technique appears to be more accurate? c-1. Calculate the MAPE for each set of forecasts. (Round the final answers to 2 decimal places.) c-2. Which technique appears to be more accurate? d-1. Do all three of forecast errors provide the same conclusion (i.e., are they consistent) in this case? d-2. Do you expect consistent results in every case? will have lower MSE than if obs 7 for F1 was 81 2. In practice, either MAD, MSE, or MAPE would be employed to compute a measure of forecast errors. What factors might lead a nanager to favour one

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