(Solved): Two independent methods of forecasting based on judgment and experience have been prepared each mont ...

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 1 835 840 785 2 845 780 805 3 805 800 800 4 795 825 855 5 770 795 790 6 835 780 791 7 810 810 755 8 835 790 805 9 830 815 815 10 830 840 830 a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.) b. Compute MAPE for each forecast. (Round your intermediate calculations to 5 decimal places and final answers to 4 decimal places.) 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.)

Iwo 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: MSE \[ \mathrm{MSE}=\frac{\sum^{n} e^{2}}{n-1} \] MAPE \[ \mathrm{MAPE}=\frac{\sum^{n}\left[\frac{\left|e_{t}\right|}{\operatorname{Actual}_{t}} \times 100\right]}{n} \] a. Compute the MSE and MAD for each forecast. (Round your answers to 2 decimal places.) b. Compute MAPE for each forecast. (Round your intermediate calculations to 5 decimal places and final answers to 4 decimal places.) b. Compute MAPE for each forecast. (Round your intermediate calculations to 5 decimal places and final answers to 4 decimal places.) 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) \( 2 s \) control limits. (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.)