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 Actual Actual Forecast Method 1 0.90 Demand Week Week 1 Forecast Method 2 0.80 Demand 0.68 1 068 2 1.02 1:05 2 1.21 1.05 0.97 0.96 3 0.88 0.96 4 1.17 1.04 4 1.11 1.04 The MAD for Method 1 thousand gallons (round your response to three decimal places) The mean squared error (MSE) for Method 1- thousand gations (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 gattons" (round your response to three decimal places) 3

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Given Data Week Forecast Method 1 Actual Demand Forecast Method 2 Actual Demand 1 090 068 080 068 2 ... View full answer

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