Two different forecasting techniques

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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:

Period Demand Forecast 1 Forecast 2

1 12 13 13

2 14 13 15

3 13 13 16

4 15 13 15

5 11 13 12

Using (at least) one of the metrics we have seen in class, identify the forecast that appears to be more accurate. Explain your reasoning.

Reference no: EM131034516

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