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:ActualDemandForecastActualForecastWeekMethod 1DemandWeekMethod 210.950.6810.800.6821.050.981.200.9830.970.9630.880.964.1.220.9741.110.97The MAD for Method 1 =thousand gallons (round your response to three decimal places)

Formula to solve this problem: - MAD=Sum of errornMSE = Sum of Squared errorn

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 ga 于置量實 Forecast Forecast Method 1 Actual Demand Actual Demand Week Week Method 2 0.95 0.68 0.80 0.68 1.05 0.98 1.20 0.98 3 0.97 0.96 3 0.88 0.96 4 1.22 0.97 1.11 0.97 The MAD for Method 1= thousand gallons (round your response to three decimal places).

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 ga 于置量實 Forecast Forecast Method 1 Actual Demand Actual Demand Week Week Method 2 0.95 0.68 0.80 0.68 1.05 0.98 1.20 0.98 3 0.97 0.96 3 0.88 0.96 4 1.22 0.97 1.11 0.97 The MAD for Method 1= thousand gallons (round your response to three decimal places).

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.6: Moving Averages Models

Problem 21P: The file P13_21.xlsx contains the weekly sales of rakes at a hardware store for a two-year period....

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