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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 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
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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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: Actual Demand Forecast Actual Forecast Week Method 1 Demand Week Method 2 1 0.95 0.68 1 0.80 0.68 2 1.05 0.98 1.20 0.98 3 0.97 0.96 3 0.88 0.96 4. 1.22 0.97 4 1.11 0.97 The MAD for Method 1 = thousand gallons (round your response to three decimal places)
Transcribed Image Text: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: Actual Demand Forecast Actual Forecast Week Method 1 Demand Week Method 2 1 0.95 0.68 1 0.80 0.68 2 1.05 0.98 1.20 0.98 3 0.97 0.96 3 0.88 0.96 4. 1.22 0.97 4 1.11 0.97 The MAD for Method 1 = thousand gallons (round your response to three decimal places)
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