The table below shows the results of two methods (Forecast 1 and Forecast 2) of forecasting for frozen prepared dinners, as well as the demand for the eight periods.
Column 1 = Period Column 2= Demand Column 3 = F1 (Predicted Demand) Column 4 = F2 (Predicted Demand)
1 68 67 65
2 75 67 66
3 70 73 70
4 74 69 69
5 69 72 72
6 72 66 73
7 80 70 75
8 78 77 81
A. Compare the accuracy of Forecast 1 and Forecast 2 by calculating the Mean Absolute Deviation for each one. Which is more accurate? (Round your answers to 2 decimal places.)
MAD F1 =
MAD F2 =
B. Compare the accuracy of Forecast 1 and Forecast 2 by calculating the Mean Squared Error for each one. Which is more accurate? (Round your answers to 2 decimal places.)
C. Compare the accuracy of Forecast 1 and Forecast 2 by calculating the Mean Absolute Percent Error for each one. Which is more accurate? (Round your intermediate calculations to 2 decimal places and and final answers to 2 decimal places.)
MAPE F1 =
MAPE F2 =