Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: PREDICTED DEMANDPeriodDemandF1F216861602756766370757047469675697472672677878074788787680 Click here for the Excel Data File 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.)

Answered: Two different forecasting techniques…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

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

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Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows:

		PREDICTED DEMAND
Period	Demand	F1	F2
1	68	61	60
2	75	67	66
3	70	75	70
4	74	69	67
5	69	74	72
6	72	67	78
7	80	74	78
8	78	76	80

Click here for the Excel Data File

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.)

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