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. What is the MAD for each method? Provide your answer with 3 decimal points.

Method 1:

Method 2:

Forecast

Week

Method 1

Method 2

Actual Demand

1

0.9

0.8

0.7

2

1.05

1.2

1

3

0.95

0.9

1

4

1.20

1.11

1

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