Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
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.
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 3 4 Forecast Method 1 0.85 1.08 0.92 1.20 Actual Demand 0.68 1.00 0.96 0.97 Forecast Method 2 0.82 1.20 0.92 1.17 Actual Demand 0.68 1.00 0.96 0.97 2 3 The MAD for Method 1 - thomand gallons round your response to three decimal places) The mean squaros error (MSE) for Muthod 1 = ( thousand gallona(round your response to throw decimal places) The MAD for Method 2-thousand galions (round your response to three decimal places) The mean squared error (MSE) for Method 2 - thousand gattono?(round your response to three decimal placea)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started