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 0.85 0.72 2 1.08 1.05 3 0.97 0.96 4 1.22 0.97 Forecast Actual Week Method 2 Demand 1 0.77 0.72 2 1.20 1.05 3 0.88 0.96 4 1.17 0.97 The MAD for Method 1 = thousand gallons (round your response to three decimal places). 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). The mean squared error (MSE) for Method 2 = thousand gallons (round your response to three decimal places).
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