Question: I need to know the MAD for Method 2 and I also need to know the MSE (mean squared error) for Method 2. Following are

I need to know the MAD for Method 2 and I alsoI need to know the MAD for Method 2 and I also need to know the MSE (mean squared error) for Method 2.

Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded shown are actual demand levels, in thousands of gallons: Forecast Method 1 Actual Demand Week Week 0.95 1.05 0.97 1.17 Forecast Method 2 0.82 1.21 0.88 1.11 0.72 0.98 1.07 1.00 AWN- Actual Demand 0.72 0.98 1.07 1.00 The MAD for Method 1 = 0.143 thousand gallons (round your response to three decimal places). The mean squared error (MSE) for Method 1 = .0241 thousand gallons? (round your response to three decimal places). The MAD for Method 2 = thousand gallons (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!