Answered step by step
Verified Expert Solution
Question
1 Approved Answer
ine Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demanded at a local gasoline
ine 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 Forecast Method 1 Actual Deinand 1 0.85 0.72 2 1.08 1.00 3 0.95 1.00 4 1.17 0.97 Forecast Actual Week Method 2 Demand 1 0.80 0.72 2 1.21 1.00 3 0.88 1.00 4 1.11 0.97 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)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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