Following are two weekly forecasts made by two different methods for the number of gallons of...

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Following are two weekly forecasts made by two different methods for the number of gallons of gasoline, in thousands, demande

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Answer 1

Answer #1

1	B	C	D	E	F	G
2	Week	Actual Demand	Forecast Method 1	Forecast Method 2	Absolute Deviation for Forecast Method 1	Absolute Deviation for Forecast Method 2
3	1	0.72	0.9	0.8	0.18	0.08
4	2	1.05	1.02	1.2	0.03	0.15
5	3	1	0.92	0.88	0.08	0.12
6	4	0.97	1.22	1.15	0.25	0.18
7			Mean Absolute Deviation or MAD for Forecast Method 1 = 0.135		0.135
8			Mean Absolute Deviation or MAD for Forecast Method 2 = 0.133		0.1325
9	Formula
10	Week	Actual Demand	Forecast Method 1	Forecast Method 2	Absolute Deviation for Forecast Method 1	Absolute Deviation for Forecast Method 2
11	1	0.72	0.9	0.8	=ABS(C11-D11)	=ABS(C11-E11)
12	2	1.05	1.02	1.2	=ABS(C12-D12)	=ABS(C12-E12)
13	3	1	0.92	0.88	=ABS(C13-D13)	=ABS(C13-E13)
14	4	0.97	1.22	1.15	=ABS(C14-D14)	=ABS(C14-E14)
15			Mean Absolute Deviation or MAD for Forecast Method 1		=SUM(F11:F14)/4
16			Mean Absolute Deviation or MAD for Forecast Method 2		=SUM(G11:G14)/4

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Following are two weekly forecasts made by two different methods for the number of gallons of...

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