10:48DoneChapter 3 Assignment iHelp Save & Exit SubmitCheck my work mode: This shows what is correct or incorrect for the work you havecompleted so far. It does not indicate completion.141.66pointsMcGrawHill<Period1ezto.mheducation.com AAused to forecast demand for cases of bottled water. Actualdemand and the two sets of forecasts are as follows:2345678F2Demand6875707469728078MAD F1MAD F2Click here for the Excel Data FilePREDICTED DEMANDF1F262646662717067737376797980677377a. Compute MAD for each set of forecasts. Given yourresults, which forecast appears to be more accurate?(Round your answers to 2 decimal places.)MSE F1MSE F2Saved✔Answer is complete and correct.5.00✔4.38✔✔Answer is complete and correct.appears to be more accurate.b. Compute the MSE for each set of forecasts. Given yourresults, which forecast appears to be more accurate?(Round your answers to 2 decimal places.)✔Answer is complete and correct.36.86✔✔41.29✔< PrevReturn to question14 of 15Next >P

The forecast is making estimates of future events or trends as per the available information and…

Answered: a. Compute MAD for each set of…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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a. Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.) MAD F1 MAD F2 Answer is complete and correct. 5.00 4.38