Question: Following are two weekly forecasts made by two difterent methods for the number of gallons of gasoline, in thousands, demanded at a local gasoline station.
Following are two weekly forecasts made by two difterent 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 galions (round your response to throe decimal places). The mean squared error (MSE) for Method 1= thousand galons 2 (round your rosponse to three decimal places). The MAD for Method 2 = thousand galions (round your response to three docimal places). The mean squared error (MSE) for Method 2= thousand gallons 2 (round your rosponse to throe decimal places)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
