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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.

WEEK	FORECASTS		ACTUAL DEMAND
WEEK	METHOD 1	METHOD 2	ACTUAL DEMAND
1	0.90	0.80	0.70
2	1.05	1.20	1.00
3	0.95	0.90	1.00
4	1.20	1.11	1.00

What are the MAD and MSE for each method?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92166327

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