Question: A) find the MAD for method 1 B) find the mean squared error (MSE) for method 1 C) Find the MAD for method 2 D)

A) find the MAD for method 1

B) find the mean squared error (MSE) for method 1

C) Find the MAD for method 2

D) Find the mean squared erroe (MSE) for method 2 A) find the MAD for method 1 B) find the mean

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 Week Forecast Method 1 0.90 1.08 0.97 1.17 Actual Demand 0.72 1.00 0.96 1.04 Forecast Method 2 0.80 1.21 Actual Demand 0.72 1.00 0.96 1.04 0.88 1.15 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!

Hi, thanks for the answers for letter A to D. I am uploading this questions again to get answers for letter E and F. please note that answers must accurate and consist of 4-5 sentences.... thanks...

4. (SHOW YOUR COMPLETE WORK) The actual demand data over the past six months for a new product are shown helow: a. Plot the monthly demand data using a software OR on a sheet of graph puper. [4...

( SHOW YOUR COMPLETE WORK ) Two independent forecasting methods 1 and 2 have been used each week for the past eight weeks. The actual demand and demand forecasts from these two methods are shown...

this is all one question Exponential Smoothing Conceptual Overview: Explore how changing the weight for exponential smoothing effects forecast and accuracy statistics. Exponential smoothing is a...

Problem 3 Chapter 8: An intensive care unit manager would like to forecast the number of inpatient admissions for the next year. Inpatient admissions for the unit over the past 10 years are shown in...

forecast of the sales during last three months. The information is below: A Manager uses moving average and exponential smoothing forecasting method to make the Month 1 2 3 4 Actual Sales 20 25 32 40...

1. Let X1, X2, . . . , X\" be a random sample from a continuous distribution with pdf 0 otherwise where 9 > 1 is an unknown parameter of interest. (21) Find the mean of X1. (4 pts) (b) Find the...

I need help in this part. Please do it correctly, I need the answers of question 8 and 9 and also the solution of above methods in excel with the chart. Please do it correctly 1 2007 1: Winter 5100 2...

(64.5)+(58.3)+(55.2)=60(60.4) Ft=Wt(At)+Wt1(At1)++Wtn(Atn) The choice of weights, w, is somewhat arbitrary and involves some trial and orrnr Wt= Weight for period t Wt1= Weight for period t1, etc....

Task 3-Forecast Demand for the XJ-422 The XJ-422 is one of the most important products in your portfolio. In the past, the demand was simply forecasted by the Sales team without regard for previous...

What are the criticisms of using the duration model to immunize an FIs portfolio?

Discuss and explain the concepts of strings being immutable in C#. What does immutable mean and how are values held in string objects changed?

Farmer Jane would like to show a net profit of $ 1 , 0 0 0 per month. She is growing tomatoes and sells them for $ 3 per pound. Her variable costs per pound are $ 1 , and she has $ 7 0 0 in fixed...

Case Greenbuilders Pte Lid ("GPL") is a local construction company which specialises in providing bespoke Design and Build construction services for private residential homes that are designed to be...