What are the mad and mse for each method

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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 are actual demand levels, in thousands of gallons.

WEEK

FORECASTS

ACTUAL DEMAND

METHOD 1

METHOD 2

1

0.90

0.80

0.70

2

1.05

1.20

1.00

3

0.95

0.90

1.00

4

1.20

1.11

1.00

 What are the MAD and MSE for each method?

Reference no: EM131353446

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