Question: The MAD for Method 1=______thousands gallons (round your response to three decimal places) The mean squared error (MSE) for Method 1=______thousands gallons^2(round your response to

The MAD for Method 1=______thousands gallons (round your response to three decimal places)
The mean squared error (MSE) for Method 1=______thousands gallons^2(round your response to three decimal places)
The MAD for method 2=____thousands gallons (round your response to three decimal places)
The mean squared error (MSE) for Method 2=____thousands gallons^2 (round your response to three decimal places)
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: Forecast Method 1 Actual Demand Forecast Method 2 Actual Demand Week Week 1 1 2 2 0.90 1.02 0.95 1.17 0.68 1.05 1.00 0.97 0.80 1.19 0.90 1.17 0.68 1.05 1.00 0.97 3 3 4 4 The MAD for Method 1 = thousand gallons (round your response to three decimal places). Enter your answer in the answer box and then click CheckStep by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
