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:
Week Forecast Method 1 Actual Demand 1 0.90 0.68 2 1.05 1.05 3 0.92 0.96 4 1.20 0.97
Week Forecast Method 2 Actual Demand 1 0.82 0.68 2 1.21 1.05 3 0.90 0.96 4 1.15 0.97
The MAD for Method 1 _ enter your response here thousand gallons (round your response to three decimal places).
The mean squared error (MSE) for Method 1 _ thousand gallons2 (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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