Following are two weekly forecasts made by two different methods for the number of gallons of gasoline,

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Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local gasoline station. Also shown are actual demand levels, in thousands of gallons:

What are the MAD and MSE for eachmethod?

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Operations management

ISBN: 978-0132163927

10th edition

Authors: Jay Heizer, Barry Render

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Question Posted: Jul 15, 2013 04:45 AM

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Following are two weekly forecasts made by two different methods for the number of gallons of gasoline,

Question:

Forecasts Method 1 0.90 1.05 0.95 1.20 Method 2 0.80 1.20 0.90 1.11 Actual Demand 0.70 1.00 1.00 1.00 Week 4.

Step by Step Answer:

Method 1 MAD 020 005 005 0204 125 bet...View the full answer

Operations management

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