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
Section13.7: Exponential Smoothing Models
Problem 25P: The file P13_25.xlsx contains the quarterly numbers of applications for home mortgage loans at a...
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Recommended textbooks for you
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,