Question: Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local gasoline
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 0.90 0.70 234 1.02 0.98 0.95 1.00 4 1.17 1.00 Week Forecast Method 2 Actual Demand 1 0.80 0.70 2 1.19 0.98 3 0.92 1.00 4 1.15 1.00 The MAD for Method 1 = thousand gallons (round your response to three decimal places). 2 The mean squared error (MSE) for Method 1 = thousand gallons (round your response to three decimal places). The MAD for Method 2 = thousand gallons (round your response to three decimal places). 2 The mean squared error (MSE) for Method 2 = thousand gallons (round your response to three decimal places).
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