Question: Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months. The forecasts and actual

Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months. The forecasts and actual

Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months. The forecasts and actual sales are as follows: Month Sales Forecast 1 Forecast 2 1 830 790 820 2 840 820 800 3 810 825 825 4 845 835 805 5 795 820 795 6 830 770 806 7 805 790 755 8 840 830 785 9 840 805 785 10 800 820 850 a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.) Forecast 1 Forecast 2 MSE MAD b. Compute MAPE for each forecast. (Round your intermediate calculations to 5 decimal places and final answers to 4 decimal places.) MAPE F1 MAPE F2 % % c. Prepare a naive forecast for periods 2 through 11 using the given sales data. Compute each of the following: (1) MSE, (2) MAD, (3) tracking signal at month 10, and (4) 2s control limits. (Round your answers to 2 decimal places.) MSE MAD Tracking signal Control limits 0

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