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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 Sales Forecast 1 Forecast 2 1 840 840 805 835 838 818 850 825 855 765 778 785 839 795 781 818 818 789 855 SER 785 795 855 19 785 795 798 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.) MAPE F1 MAPE F2 c. Prepare a naive forecast for periods 2 through 11 using the given sales data. Compute each of the following: (1) MSE. (2) MAD. (3) tracking signal at month 10, and (4) 2s control limits. (Negative values should be Indicated by a minus sign. Round your answers to 2 decimal places.) MSE MAD Tracking signal Control limits
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