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	840	810	795
2	835	780	825
3	810	835	850
4	845	840	840
5	790	775	800
6	845	790	806
7	820	785	810
8	850	770	805
9	830	835	840
10	795	785	810

a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.)

	MSE	MAD
Forecast 1
Forecast 2

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 ±

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	840	810	795
2	835	780	825
3	810	835	850
4	845	840	840
5	790	775	800
6	845	790	806
7	820	785	810
8	850	770	805
9	830	835	840
10	795	785	810

a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.)

	MSE	MAD
Forecast 1
Forecast 2

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 ±

Answer rating: 100% (QA)

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