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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 station. Also shown are actual demand levels, in thousands ofgallons:
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Question & Answer: Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in…
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The MAD for Method 1 = _______ thousand gallons (round your response to three decimal places).
The mean squared error (MSE) for Method 1 = _______ thousand gallons2(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 gallons2(round your response to three decimal places).
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