The forecasts generated by two forecasting methods and actual sales have been collected in the Microsoft Excel Online file attached. Use the Microsoft Excel Online file attached to develop forecast accuracy and answer the following questions.  1. What is the MAD, the MSE, the MAPE, the RSFE, and the tracking signal for each forecasting method? Do not round intermediate calculations. Round your answers to two decimal places. Use the minus sign to enter negative values, if any. 2. What can be concluded about the quality of the forecasts 2? Assume that the control limit for the tracking signal is ±3. The results indicate (bias or no bias) in the forecasts 2, and that the tracking signal (is not or is) within the control limits of ±3.

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The forecasts generated by two forecasting methods and actual sales have been collected in the Microsoft Excel Online file attached. Use the Microsoft Excel Online file attached to develop forecast accuracy and answer the following questions. 

1. What is the MAD, the MSE, the MAPE, the RSFE, and the tracking signal for each forecasting method? Do not round intermediate calculations. Round your answers to two decimal places. Use the minus sign to enter negative values, if any.

2. What can be concluded about the quality of the forecasts 2? Assume that the control limit for the tracking signal is ±3. The results indicate (bias or no bias) in the forecasts 2, and that the tracking signal (is not or is) within the control limits of ±3.

Forecast 2
Period
Total
Average
Sales Forecast Error Absolute Error Error^2
271
285
3
290
4
276
5
266
6
268
7 265
8
270
1
2
270
285
294
294
282
269
258
272
RSFE
MAD
MSE
Tracking Signal
Abs. % Error
MAPE
Transcribed Image Text:Forecast 2 Period Total Average Sales Forecast Error Absolute Error Error^2 271 285 3 290 4 276 5 266 6 268 7 265 8 270 1 2 270 285 294 294 282 269 258 272 RSFE MAD MSE Tracking Signal Abs. % Error MAPE
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