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The MAD for Method 1 = thousand gallons (round your response to three decimal places).

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 thousands of gallons: Week 1 2 3 4 Forecast Method 1 The MAD for Method 1 = Actual Demand 0.85 1.05 0.97 1.22 Week 1 2 0.68 0.82 1.00 1.21 1.00 0.90 1.04 1.15 thousand gallons (round your response to three decimal places). Forecast Method 2 3 4 Actual Demand 0.68 1.00 1.00 1.04
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 thousands of gallons: Week 1 2 3 4 Forecast Method 1 The MAD for Method 1 = Actual Demand 0.85 1.05 0.97 1.22 Week 1 2 0.68 0.82 1.00 1.21 1.00 0.90 1.04 1.15 thousand gallons (round your response to three decimal places). Forecast Method 2 3 4 Actual Demand 0.68 1.00 1.00 1.04
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