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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
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 Sales 835 Forecast 1 825 Forecast 2 810 1234567820 840 815 795 790 830 805 805 785 830 775 810 800 840 770 771 785 775 805 855 815 810 9 790 820 840 815 810 840 a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.) MSE MAD Forecast 1 Forecast 2 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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