Required 1 Required 2 For each of the months March through June, determine the 3-month forecast error rate, defined as 1 minus the absolute percentage error. For example, the forecast error rate for March's sales is found by dividing the absolute value of the forecast error for this month by the actual sales volume for the month. The forecast error for any month (e.g., March) is defined as the difference between the actual sales volume for the month and the sales volume for that month forecasted 3 months earlier (e.g., December). Also, indicate for each month whether the actual sales volume was above or below the forecasted volume generated three months earlier. (Round "Forecast error rate" answers to 2 decimal places. For example, 23.423% = 23.42%.) Actual sales Forecast error rate Direction of error January February March % April < Required 1 % May Required 2 > % June % Show less You are given the following budgeted and actual data for the Grey Company for each of the months January through June of the current year. In December of the prior year, sales were forecasted as follows: January, 95 units; February, 90 units; March, 97 units; April, 102 units; May, 109 units; June, 117 units. In January of the current year, sales for the months February through June were reforecasted as follows: February, 85 units; March, 97 units; April, 97 units; May, 99 units; June, 112 units. In February of the current year, sales for the months March through June were reforecasted as follows: March, 92 units; April, 97 units; May, 94 units; June, 112 units. In March of the current year, sales for the months April through June were reforecasted as follows: April, 97 units; May, 89 units; June, 102 units. In April of the current year, sales for the months May and June were reforecasted as follows: May, 79 units; June, 97 units. In May of the current year, sales for June were reforecasted as 97 units. Actual sales for the six-month period, January through June, were as follows: January, 86 units; February, 85 units; March, 100 units; April, 95 units; May, 113 units; June, 109 units. Required: 1. Prepare a schedule of forecasted sales, on a rolling basis, for the months January through June, inclusive. (Hint: There will be only one forecasted number for January-this is the forecast done in December. For February, there will be two forecasts: one done in December and a second done in January. For June, there will be six forecasts, one done in each of the preceding six months.) 2. For each of the months March through June, determine the 3-month forecast error rate, defined as 1 minus the absolute percentage error. For example, the forecast error rate for March's sales is found by dividing the absolute value of the forecast error for this month by the actual sales volume for the month. The forecast error for any month (e.g., March) is defined as the difference between the actual sales volume for the month and the sales volume for that month forecasted 3 months earlier (e.g., December). Also, indicate for each month whether the actual sales volume was above or below the forecasted volume generated three months earlier. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of forecasted sales, on a rolling basis, for the months January through June, inclusive. (Hint: There will be only one forecasted number for January-this is the forecast done in December. For February, there will be two forecasts: one done in December and a second done in January. For June, there will be six forecasts, one done in each of the preceding six months.) Month of Forecast January February December January February March April May Forecast for Month of March April < Required 1 May June Required 2 >