What is the answer and explanation: Consider the following forecast results. Calculate MFE, MAD, and MAPE, using

What is the answer and explanation:

 

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Consider the following forecast results. Calculate MFE, MAD, and MAPE, using the data for the months January through June. Does the forecast model under- or overforecast? Actual Month Forecast Demand January 1,027 1,069 February 963 1,044 March 977 903 April 1,061 1,014 May 1,081 1,082 June 985 1,078 The MFE is (Enter your response rounded to one decimal place and include a minus sign if necessary.) The MAD is (Enter your response rounded to one decimal place.) The MAPE is %. (Enter your response rounded to one decimal place.) The forecast model underforecasts Consider the following forecast results. Calculate MFE, MAD, and MAPE, using the data for the months January through June. Does the forecast model under- or overforecast? Actual Month Forecast Demand January 1,027 1,069 February 963 1,044 March 977 903 April 1,061 1,014 May 1,081 1,082 June 985 1,078 The MFE is (Enter your response rounded to one decimal place and include a minus sign if necessary.) The MAD is (Enter your response rounded to one decimal place.) The MAPE is %. (Enter your response rounded to one decimal place.) The forecast model underforecasts