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 Demand 1 0.90 0.70 2 1.05 1.00 3 0.95 1.00 4 1.20 1.00 Week Forecast Method 2 Actual Demand 1 0.80 0.70 2 1.20 1.00 3 0.90 1.00 4 1.11 1.00 The MAD for Method 1 = nothing 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 gallons: Week Forecast Method 1 Actual Demand 1 0.90 0.70 2 1.05 1.00 3 0.95 1.00 4 1.20 1.00 Week Forecast Method 2 Actual Demand 1 0.80 0.70 2 1.20 1.00 3 0.90 1.00 4 1.11 1.00 The MAD for Method 1 = nothing 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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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:
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The MAD for Method 1 =
nothing
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