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Forecasting methods and actual sales

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Reference no: EM131408007

Please provide a worksheet with detailed answers to the following question:

The forecast generated by two forecasting methods and actual sales are as follows:

Month   Sales  Forecast1  Forecast2

      1        269     275             268

      2        289    266              287

      3        294    290              292

      4        278    284              298

      5        268    270             274

      6        269    268             270

      7         260   261             259

      8        275    271             275

Compute the MSE, the MAD, the MAPE, the RSFE, and the tracking signal for each forecasting method. Which method is better? Why?

Reference no: EM131408007

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