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Question: two different forecasting techniques f1 and f2 were used to...

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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 are as follows 60 75 70 74 69 72 80 78 71 67 73 67 73 64 62 70 73 76 79 90 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 T1 MAD T2 Click to select appears to be more accurate. b. Compute the MSE for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answens to 2 decimal places. NSE T MSE 72 Cick to seleca appears to be more accurate. either MAD or MSE would be employed to compute forecast errors. What factors might lead a manager to choose one c. In practice, rather than the other? Ether one might airedy be in use, familar to users, and have past values for comparison, f ick to selecare used, MSE woud be natural: i (Click to selec are used, MAD would be more natural. d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations to 2 decimal places and and final answers to 2 decimal places) MAPE P1 MAPE F2
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