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

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 2 1.02 0.98 3 0.95 1.00 4 1.22 0.97 The MAD for Method 1 w Week Forecast Method 2 Actual Demand 0.80 0.70 2 121 0.98 3 0.90 1.00 4 1.17 0.97 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!

Scenario 1 An administrator in admissions at GHC is worried that certain majors have more hours earned than other majors. Using the majors and hours earned data below , are the mean hours earned...

ABC Co. Has an average collection period of 60 days. Total credit sales for the year were $3,285,000. What is the balance in accounts receivable at year-end? a. $54,750 b. $109,500 c. $540,000 d....

Suppose you are performing an experiment where you randomly assign people to one of two experimental conditions (treatment versus control). Which analysis would be most appropriate

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...

= Homework: Ch.4-FC Question 9, Problem 4.14 Part 3 of 4 HW Score: 54.22%, 9.22 of 17 points Points: 0.5 of 1 Following are two weekly forecasts made by two different methods for the number of...

11 of 13 (1 complete) This Quiz: 100 pts possible Ponential This Question: 12 pts tinue wit A Question Help Following are two weekly forecasts made by two different methods for the number of gallons...

What is the MAD for method 1? What is the MSE for method 1? What is the MAD for method 2? What is the MSE for method 2? Following are two weekly forecasts made by two different methods for the number...

second picture is to show steps X Problem 4.14 Question He Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local...

Score: 0 of 1 pt 1 of 5 (complete Problem 4.14 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...

P22 phage was used for generalized transduction by growing it on bacteria that were ala+, pro+ and tet. The recipient bacteria, which were ala-, pro- and tet were infected and incubated on two media:...

Travel + Leisure magazine presented its annual list of the 500 best hotels in the world (Travel + Leisure, January 2009). The magazine provides a rating for each hotel along with a brief description...

rephrase the following and make it more professional: In order to respond effectively to the opportunity statement, Omron must consider which innovation capabilities are most critical to achieving...

I need an essay or a report of 500 words of Automated Freight Sortation Terminals that are used in Startrack distribution center and the benefits to supply chain logistics. Please make sure there is...

If two face of the slab 0 x L are kept at temperature zero, and the initial temperature of the slab is given by u(x, 0) = A(a constant) for 0

Let the surface x + y + z = 2 separates air ( = o ) and a block of iron (=400 o ). The region x + y + z >2 is air where B 1 =50 a x + 30 a y - 20 a z Wb/m 2. Find B 2 and H 2 .

Pick two companies within the same industry that you are interested in. Find the stock price of each company on January 1, 2000, and on January 1, 2012. If you had purchased this stock, what would...

In 2015, Alex contributes land worth $20,000 (which Alex paid $8,000 for in 2012) in exchange for a 40% partnership interest. 1. How much gain/loss does Alex recognize on the exchange? 2. What is...

Determine if the overhead allocated to the product relates to a single plantwide overhead rate method, multiple production department factory overhead rate method, or activity-based costing...

Which of the following is not good advice for interviewing? a. Prepare for the interview by reading and by listing questions. b. Dont be distracted from your list of questions by the interviewees...

Unless you have a good reason otherwise, how should bad-news responses begin? a. With background information b. With the bad news c. With an acknowledgment of the request d. With any qualifications...

Which of the following shows the most effective use of turn signals? a. NGL is produced in two plants. One is on Das Island. One is at Ruwais. b. NGL is produced in two plants. One is on Das Island,...