Project #7907 - Operations Management

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 the actual demand levels, in thousands of gallons:

Week Method 1 Method 2 Actual demand
1 0.95 0.77 0.70
2 1.05 1.21 0.98
3 0.92 0.92 0.96
4 1.22 1.17 1.04

The MAD for Method 1= ??
The mean squared error (MSE) for Method 1= ??
The MAD for Method 2= ??
The mean squared error (MSE) for Method 2= ??

Subject Business
Due By (Pacific Time) 06/17/2013 05:00 pm
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