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 5 6 7 7 8 9 9 10 Sales 835 840 805 815 795 830 780 850 795 845 Forecast 1 785 800 825 810 765 805 810 830 795 850 Forecast 2 765 795 840 815 790 786 780 785 790 840 a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.) MSE MAD 22.5 Forecast 1 Forecast 2 27.4 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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