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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
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 1 2 3 4 5 6 7 8 9 10 Sales 840 830 840 830 780 830 810 830 800 840 Forecast 1 785 825 790 825 820 810 810 835 790 860 Forecast 1 Forecast 2 a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.) Forecast 2 810 830 805 810 775 806 815 825 820 800 MSE MAD b. Compute MAPE for each forecast. (Round your intermediate calculations to 5 decimal places and final answers to 4 decimal places.)
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