Problem 3-21 (Algo)Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand andthe two sets of forecasts are as follows:PREDICTED DEMANDDemandF1F2Period1686160275676637075704746967569747267267788074788787680b. Compute the MSE for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round youranswers to 2 decimal places.)MSE F132.63MSE F230.90d. Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations to 2decimal places and and final answers to 2 decimal places.)MAPE F1%MAPE F2%

we need to find MSE and MAPE MSE = Average(dev^2) = 253/8 = 31.62 MAPE = Average((abs…

Answered: Two different forecasting techniques…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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