Question: As well as the mean squared error (MSE) for method 2 = ____ thousand gallons^2 (round to three decimal places). Following are two weekly forecasts

As well as the mean squared error (MSE) for method 2 = ____ thousand gallons^2 (round to three decimal places).

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 Actual Demand Forecast Method 2 Actual Demand Week Week 1 1 2 2 0.90 1.02 0.95 1.17 0.68 1.05 1.00 0.97 0.80 1.19 0.90 1.17 0.68 1.05 1.00 0.97 3 3 4 4 The MAD for Method 1 = 0.123 thousand gallons (round your response to three decimal places). The mean squared error (MSE) for Method 1 = 0.023 thousand gallons? (round your response to three decimal places). The MAD for Method 2 = 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!

2. The mean squared error (MSE) for Method 1 = _ thousand gallons^2 (round your response to three decimal places). 3. The MAD for Method 2 = _ thousand gallons (round your response to three decimal...

The mean squared error (MSE) for method 1= ________ thousand gallons^2 The MAD for method 2=________ thousand gallons The mean squared error (MSE) for method 2= _______ thousand gallons^2 Following...

What is the MAD and mean squared error (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...

what is the mean squared error (MSE) for Method 2 = ? Week 1 2 3 Week 1 Forecast Method 1 0.90 1.08 0.92 1.20 Actual Demand 0.70 1.05 1.00 1.00 Forecast Method 2 0.82 1.21 0.90 1.17 Actual Demand...

The mean squared error (MSE) for Method 2 is thousand gallons (round your response to three decimal places) Following are two weekly forecasts made by two different methods for the number of gallons...

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...

3. The MAD for Method 2= thousand gallons^2 (round your response to three decimal places) 4. The mean squared error (MSE) for Method 2 = ___ thousand gallons^2 (round your response to three decimal...

B) The mean squared (MSE) for method 1 = _ thousand gallons^ 2 (round to three decimal places) C) The MAD for method 2 = _ thousand gallons (round to three decimal places) D) The mean squared error...

Can anyone solve the whole Problem for me? Part two of the question asks The mean squared error (MSE) for Method 1 = (How many?) Thousand Gallons^2 Part three of the question asks The MAD for the...

The mean squared error (MSE) for Method 1=______thousands gallons^2(round your response to three decimal places) The MAD for method 2=____thousands gallons (round your response to three decimal...

LaSalle Corp. is a U.S.- based MNC with subsidiaries in various less developed countries where stock markets are not well established. How can LaSalle still achieve its global target capital...

A non-interest-bearing note was recorded in the accounting records. The book value of the note remains the same during the maturity period. decreases during the maturity period. increases throughout...

The official reserve account includes all purchases and sales of international reserve assets such as dollars, foreig all purchases and sales of assets such as stocks, bonds, bank accounts, real...

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...