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: Forecast Actual Week Method 1 Demand 1 0.85 0.68 2 1.05 0.98 3 0.92 1.00 4 1.22 1.00 Forecast Actual Week Method 2 Demand 1 0.82 0.68 2 1.20 0.98 3 0.92 1.00 4 1.17 1.00 The MAD for Method 1 = thousand gallons (round your response to three decimal places). The mean squared error (MSE) for Method 1 = The MAD for Method 2 = thousand gallons (round your response to three decimal places). thousand gallons (round your response to three decimal places). The mean squared error (MSE) for Method 2 = thousand gallons (round your response to three decimal places).
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