Question: 1. Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local gasoline

1. 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:

Week

Forecast Method 1

Actual

Demand

1

0.95

0.72

2

1.05

1.05

3

0.95

1.00

4

1.22

0.97

Week

Forecast Method 2

Actual

Demand

1

0.82

0.72

2

1.21

1.05

3

0.92

1.00

4

1.11

0.97

The MAD for Method 1 = ____ thousand gallons (round your response to three decimal places).

2. The following are monthly actual and forecast demand levels for May through December for units of a product manufactured by the D. Bishop Company in Des Moines:

Month

Actual Demand

Forecast Demand

May

105

104

June

80

108

July

108

101

August

115

101

September

105

104

October

106

106

November

125

105

December

120

109

For the given forecast, the tracking signal = ___ MADs (round your response to two decimal places).

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