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.

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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: Question Help Week Week 1 2 3 4 Forecast Method 1 0.95 1.05 0.92 1.17 Actual Demand 0.72 0.98 0.96 1.00 1 2 3 4 Forecast Method 2 0.80 1.21 0.88 Actual Demand 0.72 0.98 0.96 1.00 The MAD for Method 1 = thousand gallons (round your response to three decimal places). The actual number of patients at Providence Emergency Medical Clinic for the first six weeks of this year follows: Question Help 11 Week Actual No. of Patients 47 1 2 3 4 5 6 48 57 40 44 55 Clinic administrator Dana Schniederjans wants you to forecast patient numbers at the clinic for week 7 by using this data. You decide to use a weighted moving average method to find this forecast Your method uses four actual demand levels, with weights of 0.500 on the present period. 0 250 one period ago, 0.125 two periods ago, and 0.125 three periods ago. a) What is the value of your forecast? The value of the forecast is patients (round your response to two decimal places)

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