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 7 Period 1 2 3 Demand 73 80 73 75 74 75 78 F1 75 75 75 75 76 76 76 F2 75 76 72 73 73 77 74 5 6 7 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 F1 F2 MSE for each set of forecasts. (Round the final answers to 2 decimal places.) F1 F2 b-2. Which technique appears to be more accurate? (Click to select) C-1. Calculate the MAPE for each set of forecasts (Round the final answers to 7 decimal noun (Click to select) b-1. Calculate the MSE for each set of forecasts. (Round the final answers to 2 decimal places.) F1 F2 b-2. Which technique appears to be more accurate? (Click to select) c-1. Calculate the MAPE for each set of forecasts. (Round the final answers to 2 decimal places.) F1 F2 c-2. Which technique appears to be more accurate? (Click to select) d-1. Do all three of forecast errors provide the same conclusion (i.e., are they consistent) in this case? (Click to select) 9 d-2. Do you expect consistent results in every case? (Click to select) (Click to select) will have lower MSE than (Click to select) if obs 7 for Ft was 81. e. In practice, either MAD, MSE, or MAPE would be employed to compute a measure of forecast errors. What factors might lead a manager to favour one? MAD MSE (Click to select) (Click to select) (Click to select) MAPE F1 F2 b-2. Which technique appears to be more accurate? (Click to select) c-1. Calculate the MAPE for each set of forecasts. (Round the final answers to 2 decimal places.) F1 F2 c-2. Which technique appears to be more accurate? (Click to select) d-1. Do all three of forecast errors provide the same conclusion (.e. are they consistent) in this case? (Click to select) d-2. Do you expect consistent results in every case? (Click to select) : (Click to select) will have lower MSE than (Click to select) If obs 7 for F1 was 81. e. In practice, either MAD, MSE, or MAPE would be employed to compute a measure of forecast errors. What factors might lead a manager to favour one? MAD MSE MAPE (Click to select) is more sensitive to large forecast errors. is easy to calculate is easy to understand