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Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local gasoline
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 Actual Week Method 1 Demand 1 0.05 0.72 2 1.05 1.05 3 0.07 1.07 4 1.20 0.97 Forecast Actual Week Method 2 Demand 1 082 0.72 2 1.21 1.05 3 0.88 1.07 4 1.17 097 The MAD for Method 1-0.115 thousand gallons (round your response to three decimal places). The mean squared error (MSE) for Method 1-0.023 thousand gallons" (round your response to three decimal places) The MAD for Method 2-thousand gatione (round your response to three decimal places).
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