Two different forecasting techniques were used to forecast demand for cases of bottled water in a store. Actual demand a

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Two Different Forecasting Techniques Were Used To Forecast Demand For Cases Of Bottled Water In A Store Actual Demand A 1 (381.91 KiB) Viewed 60 times

Two different forecasting techniques were used to forecast demand for cases of bottled water in a store. Actual demand and the two sets of forecasts for seven periods are as follows: Forecast Demand Period Demand 1 68 2 74 3 70 75 5 69 72 7 79 HNMON m8%乃的刀四 H8%刀刀刀小巧 F1 69 70 71 72 73 74 75 R可见的乃乃乃刀 67 72 70 72 75 73 77 a-1. Calculate the MAD for each set of forecasts. (Round the final answers to 2 decimal places.) F1 F2 a-2. Which technique appears to be more accurate? (Click to select) b-1. Calculate the MSE for each set of forecasts. (Round the final answers to 2 decimal places.) F1 F2 b-2. Which technique appears to be more accurate? (Click to select) C-1. Calculate the MAPE for each set of forecasts. (Round the final answers to 2 decimal places.) % F1 F2 c-2. Which technique appears to be more accurate? (Click to select) - d-1. Do all three of forecast errors provide the same conclusion (i.e., are they consistent) in this case? (Click to select) d-2. Do you expect consistent results in every case? (Click to select), (Click to select) will have lower MSE than (Click to select) if obs 7 for F1 was 80. e. In practice, either MAD, MSE, or MAPE would be employed to compute a measure of forecast errors. What factors might lead a manager to favour one? MAD (Click to select) A MSE MAPE ✓ (Click to select) is easy to calculate. is easy to understand. is more sensitive to large forecast errors.