Question: 1. MAD and MSE for Method 1 2. MAD and MSE for Method 2 Following are two weekly forecasts made by two different methods for

1. MAD and MSE for Method 1 2. MAD and MSE for 1. MAD and MSE for Method 1

2. MAD and MSE for Method 2

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: Forecast Method 1 Week Week 1 1 Actual Demand 0.72 1.05 1.07 1.04 Forecast Method 2 0.77 1.19 0.90 1.17 0.85 1.02 0.95 1.20 Actual Demand 0.72 1.05 1.07 1.04 2 2 3 3 4 4 The MAD for Method 1 = thousand gallons (round your response to three decimal places)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Required information Skip to question [The following information applies to the questions displayed below.] Pam and John are partners in the PJs partnership sharing income in a ratio of 3:1. Gerry is...

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...

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

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...

Following are two weekly forecasts made by two different methods for the number of gallons of gasolino, in thousands, demanded at a local gasoline station. Also st Week 1 2 3 4 Forecast Method 1 0.90...

Find the MAD and MSE for Method 1 (Table 1) and Method 2 (Table 2). Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, shown are...

What is the MAD for method 1&2? What is the MSE for Method 1& 2? ? Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a...

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,...

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...

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...

What are two of the main provisions of FLSA?

If you familiar (better have read) with _a thousand splendid suns_by khaled hosseini, write an essay about the protagonist laila, 1)describe two conflicts she faces; 2)how does she deal with them?;...

Classification when Recording Journal Entries (14 points) The following are the accounts for a company associated with number for identification. For each transaction listed during the reporting...

As the manager of Smith Construction, you need to make a decision on the number of homes to build in a new residential area where you are the only builder. Unfortunately, you must build the homes...