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Q. The following are two weekly forecasrs made by two different methods for the number of gallons of gasoline in thousands, demanded at a local gasoline station. lAlso shown are actual demand levels, in thoursands of gallons

Week Forecast Met1  Actual demand       Week   Forecast method 2   Actual demand

1              0.90                            0.68                    1                    0.77                     0.68

2             1.05                             1.05                    2                    1.21                     1.05

3              0.97                            1.07                    3                    0.88                      1.07

4              1.22                            1.00                    4                    1.11                      1.00

The MAD for Method 1= ........... thousands gallon(round resonse  to 3 demical places)

The MSE for Method 1=..............       thousands gall (round resonse  to 3 demical places)

The absolute deviation based on forecast developed using Method 2 add to ......... thousands gallons ( round ur answer to three decimal places)

MAD for Method 2 is .............

MSE for Method 2 is ................

Marketing Management, Management Studies

  • Category:- Marketing Management
  • Reference No.:- M9522669

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