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Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts
Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: Period 1 2 3 4 5 6 7 8 Demand 68 75 70 74 60 69 72 80 78 PREDICTED DEMAND F1 F2 67 65 72 64 64 72 20 70 20 67 70 20 75 74 67 79 79 74 77 73 81 a. Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal place.) MAD F1 MAD F2 (Click to select) appears to be more accurate. d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your final answers to 2 decimal places.) MAPE F1 MAPE F2
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