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: Following are two weekly forecasts made by twoNNOT sure If I am doing right. Thanks :)

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: The MAD for Method 1 = thousand gallons (round your response to three decimal places). The mean squared error (MSE) for Method 1= thousand gallons 2 (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 2 (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!