Question: Following are two weekly forecasts made by two different methods for the number of gallons ofgasoline, inthousands, demanded at a local gasoline station. Also shown
Following are two weekly forecasts made by two different methods for the number of gallons ofgasoline, inthousands, demanded at a local gasoline station. Also shown are actual demandlevels, in thousands ofgallons:
Week
Forecast Method 1
Actual
Demand
1
0.85
0.68
2
1.08
0.98
3
0.92
1.07
4
1.20
1.00
Week
Forecast Method 2
Actual
Demand
1
0.77
0.68
2
1.21
0.98
3
0.92
1.07
4
1.17
1.00
The MAD for Method 1=
nothing
thousand gallons (round your response to three decimalplaces).
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