Question: Week 1 2 3 4 Forecast Method 1 0.95 1.05 0.97 Actual Demand 0.68 0.98 1.00 1.04 Week 1 2 3 4' Forecast Method 2

Week 1 2 3 4 Forecast Method 1 0.95 1.05 0.97
Week 1 2 3 4 Forecast Method 1 0.95 1.05 0.97
Week 1 2 3 4 Forecast Method 1 0.95 1.05 0.97
Week 1 2 3 4 Forecast Method 1 0.95 1.05 0.97 Actual Demand 0.68 0.98 1.00 1.04 Week 1 2 3 4' Forecast Method 2 0.80 1.21 0.90 1.15 Actual Demand 0.68 0.98 1.00 1.04 1.20 The MAD for Method 1 = 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) The MAD for Method 2-thousand gallons (round your response to three decimal places). The mean squared error (MSE) for Method 2 = thousand gallons? (round your response to three decimal places) Following are two weekly forecas made by two different methods for the number of galions of gasoline, in thousands demanded at a local gasoline station Also shown are actual demand levels in thousands of gallone Week Forecast Method 0.95 Actual Demand Week Forecast Method 2 0 00 . Actual Demand 0 0

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!