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Two independent methods of forecasting based on judgment and experience have been prepared each month for...

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Advance Math

Two independent methods of forecasting based on judgment andexperience have been prepared each month for the past 10 months.The forecasts and actual sales are as follows:

MonthSalesForecast 1Forecast 2
1845815820
2835835825
3795820825
4820830795
5795785780
6835785771
7805810785
8850780785
9840805830
10805815825

     

a. Compute the MSE and MAD for each forecast.(Round your answers to 2 decimalplaces.)

MSEMAD
Forecast 1??
Forecast 2??

   

b. Compute MAPE for each forecast.(Round your intermediate calculations to 5 decimal placesand final answers to 4 decimal places.)

MAPE F1  ?   %
MAPE F2?    %

c. Prepare a naive forecast for periods 2through 11 using the given sales data. Compute each of thefollowing; (1) MSE, (2) MAD, (3) tracking signal at month 10, and(4) 2s control limits. (Round your answers to 2decimal places.)

MSE?
MAD?
Tracking signal?
Control limits0 ± ?

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