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:Week234ForecastMethod 1The MAD for Method 1 =0.851.020.971.20ActualDemand0.721.051.071.00Week1234ForecastMethod 20.771.210.881.15thousand gallons (round your response to three decimal places).ActualDemand0.721.051.071.00

The question is about forecastingGiven :Method 1 :To find :MAD for method 1

Answered: Following are two weekly forecasts made…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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6. In a field experiment, the earth worm densities observed in different sites with varying soil moisture regimes are given below. Is there any relationship between the soil moisture and earth worm densities: Moisture % 6 25 12 8 16 20 30 22 27 31 Earth worm density (No./m2) 0 5 3 14 10 12 14 6
Given below are the data relating to the indices and weights of the consumer's items for the current year 1998 : Items Indices Weights Food Fuel Clothing Rent Misc. 200 50 100 17 125 12 160 10 130 11 It is proposed to allow dearness allowance in 1998 is such a manner that it will fully compensate the price rise in food and clothing. Determine such dearness allowance in terms of percentage of wages.
Month Actual demand Forecasted Demand 1 950 1000 2 1070 1000 3 1100 1000 4 960 1000 5 1090 1000 6 1050 1000 For the dataset above, compute the overall MAPE.
Obtain the regression of demand on price from the following data and estimat demand when the price is 7.5 Price Demand Price Demand 2.0 75 4.5 40 2.5 60 5.0 40 3.0 55 5.5 35 3.5 50 6.0 30 4.0 45 6.5 30
The following data refers to the demand for money (M) and the rate of interest (R) in for eight different economics: M (In billions) 56 50 46 30 20 35 37 61 R% 6.3 4.6 5.1 7.3 8.9 5.3 6.7 3.5 a. obtain the OLS estimators of M and R and coefficient of determination for the data and interpret its value b. Test the hypothesis that interest rate influences demand for money and Compute the standard error of the regression coefficients and conduct test of significance at the 5% level of significance. c. If in a 9th economy the rate of interest is R=8.1, predict the demand for money(M) in this economy.
In 1997 Fuller and coworkers at Texas A&M University estimated the operating costs of cotton gin plants of various sizes. The operating costs of the next to the smallest plant is shown in the following table. x 2000 4000 6000 8000 10000 12000 y 163,200 230,480 301,500 376,160 454,400 536,400 Here x is the annual number of bales produced, and y is the dollar total cost. (Use 4 decimal places in your answer.)A. Determine the best fitting line using least squares. Also determine the square of the correlation coefficient.The best fitting line is C(x) = .The square of the correlation coefficient is r2 = .B. The study noted that revenue was $63.25 per bale. At what level of production will this plant break even?The revenue equation is R(x) = The profit equation is P(x) = The production will break even when bales are produced.C. What are the profits or losses when production is 3000 bales? 4000 bales? (Round to the nearest cent.)When…
Consider the following data relating hours spent studying (X) and average grade on course quizzes (Y): X Y 5 6 3 8 4 8 7 10 5 7 6 9 Compute SSX 10 30 5 44
I need to find the two models in part b. Please give final answer
The forecast for year 6 using a weighted 2-year moving average with weights of 0.350.35 and 0.650.65 (the weight of 0.650.65 is for the most recent period) is what?

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