Question: The mean squared error (MSE) for method 1= ________ thousand gallons^2 The MAD for method 2=________ thousand gallons The mean squared error (MSE) for method

The mean squared error (MSE) for method 1=

The mean squared error (MSE) for method 1= ________ thousand gallons^2

The MAD for method 2=________ thousand gallons

The mean squared error (MSE) for method 2= _______ thousand gallons^2

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 Week 1 2 1 Forecast Method 1 0.90 1.08 0.92 1.17 Actual Demand 0.68 0.98 0.96 Forecast Method 2 0.80 1.21 0.92 1.15 Actual Demand 0.68 0.98 0.96 1.04 2 3 3 4 4 1.04 The MAD for Method 1 = 0.100 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!