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: Week 1 2 3 4 Forecast Method 1 0.95 1.02 0.97 1.17 Actual Demand 0.72 0.98 1.07 1.00 Week 1 2 3 4 Forecast Method 2 0.80 1.19 0.92 1.17 Actual Demand 0.72 0.98 1.07 1.00 The MAD for Method 1 = 0.135 thousand gallons (round your response to three decimal places). The mean squared error (MSE) for Method 1 = thousand gallons (round your response to three decimal places)Step by Step Solution
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