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:
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Round answers to three decimal places
The MAD for Method 1 = ? thousand gallons
The mean squared error (MSE) for Method 1 = ? thousand gallons^2
The MAD for Method 2 = ? thousand gallons
The mean squared error (MSE) for Method 2 = ? thousand gallons ^2
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