Question: Forecast Following are two weekly forecasts made by two diferent methods for the number of galons of gasoline , in thousands, demanded at a local

Forecast Following are two weekly forecasts made

Forecast Following are two weekly forecasts made by two diferent methods for the number of galons of gasoline , in thousands, demanded at a local gasoline station. Also shown are actual demand levels , in thousands of gallors: 0 0 Forecast Actual Actual Week Method 1 Demand Week Method 2 Demand 1 0.90 0.70 1 0.77 0.70 2 1.08 1.05 2 1.20 1.05 3 097 1.07 3 0,90 1.07 4 1.17 0.97 4 1.17 0.97 The MAD for Method 1 _ thousand galors (round your response to tredecimal places, The mean squared eror (WSE) for Metod 1=thousand gallons " (round your response to tredecimal places). The MAD for Method 2= thousand galons (round your response to three decimel pleces). The mean squared eror (y for Method2: thousand galons " (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!