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 sales

Two independent methods of forecasting based on

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 1 2 3 4 5 6 7 8 9 10 Sales 771 790 794 776 772 770 761 774 792 794 Forecast 1 774 789 792 776 773 771 761 778 792 798 Forecast 2 772 791 792 775 772 772 765 778 794 797 a. Compute a tracking signal for the 10th month for each forecast using the cumulative error for months 1 to 10. Use action limits of + 4. Is there bias present? (Do not round your intermediate calculations. Round your answers to 2 decimal places. Negative amounts should be indicated by a minus sign.) Tracking Signal Forecast Method 1 Method 2 Bias (Click to select) (Click to select) b. Compute 2s control limits for each forecast. (Do not round your intermediate calculations. Round your answers to 2 decimal places.) Control Limits Forecast Method 1 Method 2

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