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: Forecast Method 1 Week 1 2 0.95 1.08 0.95 1.22 Actual Demand 0.72 0.98 0.96 1.00 Week 1 2 3 4 Forecast Method 2 0.77 1.20 0.92 1.17 Actual Demand 0.72 0.98 0.96 1.00 3 4 The MAD for Method 1 = .14 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). Homework: Ch.4-FC Question 10, Problem 4.15 Part 2 of 3 Sales of Volkswagen's popular Beetle have grown steadily at auto dealerships in Nevada during the past 5 years (see table below). Year 1 2 3 Sales 455 502 516 566 580 4 5 a) Forecasted sales for year 6 using a 3-year moving average is 554 sales (round your response to one decimal place). b) The MAD for a 3-year moving average based forecast is sales (round your response to one decimal place)

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