1. Consider monthly demand for the ABC Corporation, as shown in Table 7.3. Forecast the monthly demand for Year 6 using the static method for forecasting. Evaluate the bias, TS, MAD, MAPE, and MSE. Evaluate the quality of the forecast. TABLE 7-3 Monthly Demand for ABC Corporation Sales Year 1 Year 2 Year 3 Year 4 Year 5 January February March April May June 2,000 3,000 3,000 3,000 4,000 6,000 7,000 6,000 10,000 12,000 14,000 8,000 78,000 July August September October 3,000 4,000 3,000 5,000 5,000 8,000 3,000 8,000 12,000 12,000 16,000 10,000 89,000 2,000 5,000 5,000 3,000 4,000 6,000 7,000 10,000 15,000 15,000 18,000 8,000 98,000 5,000 2,000 3,000 2,000 7,000 6,000 8,000 10,000 5,000 4,000 4,000 2,000 5,000 7,000 10,000 14,000 16,000 16,000 20,000 12,000 115,000 20,000 November December 20,000 22,000 8,000 113,000 Total We'va undated our read aloud faptur 2. (20 pts) Refer to the data set in Exercise 1 on page 200 of the textbook. a) Forecast the monthly demand for Year 6 using the trend projection only. (2 pts) What are the values of MAD, MAPE, MSE, and TS? (4 pts) b) Forecast the monthly demand for Year 6 using the trend & seasonality adjustment. (4 pts) What are the seasonal factors for each month? (2 pts) What are the values of MAD, MAPE, MSE, and TS? (4 pts) c) Based on your analysis, should you consider the seasonality in the forecast? Why? (4 pts)