Question: Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local g shown

Following are two weekly forecasts made by two

Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local g shown are actual demand levels, in thousands of gallons: Forecast Actual Demand Forecast Method 2 Actual Demand Week Method 1 Week 1 0.95 0.72 1 0.80 0.72 2 1.08 1.00 2 1.20 1.00 3 0.95 1.00 3 0.90 1.00 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 gallons (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)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!