Question: With step by step calculations please: 5. The forecasts generated by three forecasting methods and actual demand for the Torrance Company are as follows: MONTH

With step by step calculations please:

With step by step calculations please: 5. The

5. The forecasts generated by three forecasting methods and actual demand for the Torrance Company are as follows: MONTH DEMAND FORECAST 1 FORECAST 2 FORECAST 3 269 280 275 266 290 284 270 268 289 294 278 268 269 268 287 292 298 274 270 4 295 290 280 270 260 5 6 Compute the MSE and MAD for each forecasting method. Which forecasting method is the best? Would your decision on which forecasting method performs better depend on which forecasting accuracy measure (MAD or MSE) is selected

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