Please do not give solution in image format thanku 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, inthousands of gallonsWeek1ForecastMethod 20.771.210.921.15The MAD for Method 1-thousand gallons (round your response to three decimal places)2ForecastMethod 134ActualDemand0.951.050.971.220.721.050.900.97Week1234ActualDemand0.721.050.900.97

MAD is often used as an alternative to other measures of dispersion, such as the variance or…

Answered: The MAD for Method 1 = thousand gallons…

Business

Operations Management

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

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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Question

Please do not give solution in image format thanku

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
1
Forecast
Method 2
0.77
1.21
0.92
1.15
The MAD for Method 1-thousand gallons (round your response to three decimal places)
2
Forecast
Method 1
3
4
Actual
Demand
0.95
1.05
0.97
1.22
0.72
1.05
0.90
0.97
Week
1
2
3
4
Actual
Demand
0.72
1.05
0.90
0.97

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