Question: PLEASE I JUST NEED THE WORK. THE ANSWERS ARE GIVEN ALREADY. PLEASE EXPLAIN HOW TO GET THE ANSWER TO EACH QUESTION. THANK YOU! Following are

PLEASE I JUST NEED THE WORK. THE ANSWERS ARE

PLEASE I JUST NEED THE WORK. THE ANSWERS ARE GIVEN ALREADY. PLEASE EXPLAIN HOW TO GET THE ANSWER TO EACH QUESTION. THANK YOU!

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: D Week Week 1 2 3 4 Forecast Method 1 0.85 1.02 0.97 1.20 Actual Demand 0.72 1.05 1.00 1.00 1 2 3 Forecast Method 2 0.82 1.21 0.88 1.15 Actual Demand 0.72 1.05 1.00 1.00 4 The MAD for Method 1 = 0.098 thousand gallons (round your response to three decimal places). The mean squared error (MSE) for Method 1 = 0.015 thousand gallons? (round your response to three decimal places). The MAD for Method 2 = 0.133 thousand gallons (round your response to three decimal places). The mean squared error (MSE) for Method 2 = 0.018 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!