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 Sales 771 790 794 776 Forecast 1 770 791 792 Forecast 2 770 791 792 779 781 772 771 771 767 769 763 770 761 774 792 794 764 776 791 774 791 792 795 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.) Forecast Method 1 Method 2 Tracking Signal 9 Bias Not present Not present 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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