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 station.
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 | 0.70 |
| 2 | 1.02 | 0.98 |
| 3 | 0.95 | 1.00 |
| 4 | 1.22 | 1.04 |
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| WEEK | Forecast Method 2 | Actual Demand |
| 1 | 0.82 | 0.70 |
| 2 | 1.19 | 0.98 |
| 3 | 0.88 | 1.00 |
| 4 | 1.15 | 1.04 |
The MAD for Method 1=______thousands gallons (round your response to three decimal places)
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 places)
The mean squared error (MSE) for Method 2=____thousands gallons^2 (round your response to three decimal places)
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