Two independent methods of forecasting based on judgment and experience have been prepared each month for the past 10 months

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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        800                805

2              845        790                820

3              825        790               825

4              795        805               815

5              785        815               805

6              840        790               781

7              825        795               760

8              850        785               770

9              800        820               795

10            785        825               850

 

a. Compute the MSE and MAD for each forecast.  (Round your answers to 2 decimal places.)

 

Forecast 1      MSE_____     MAD_____

Forecast 2      MSE_____     MAD_____

 

b. Compute MAPE for each forecast. (Round your intermediate calculations to 5 decimal places and final answers to 4 decimal places.)

 

MAPE  F1_____%

MAPE  F2_____%

 

c. 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  (Round your answers to 2 decimal places.)

 

MSE_____

MAD_____

Tracking signal_____

Control limits_____