Explain methods for the number of gallons of gasoline, Operation Management

Assignment Help:

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-

Forecasts

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 1.11 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= ??


Related Discussions:- Explain methods for the number of gallons of gasoline

Assignment problem, Six Operators are to be assigned to five jobs with the ...

Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given in the matrix below. Determine the optimal assignment. Which operator will have no assignment

Compute the overall proportion of tourists, A state department of tourism a...

A state department of tourism and recreation collects data on the number of cars with out-of-state license plates in a state park. (The group's position is that more out-of-state p

Explain supply chain might also benefit the national economy, The bullwhip ...

The bullwhip effect is often blame for the boom-and-bust cycles in our national economy. Which of the remedies for eliminating this effect in a supply chain might also benefit the

Mba0038, explain strategy as an organizational process

explain strategy as an organizational process

Explain understanding of human behaviour, Explain understanding of human be...

Explain understanding of human behaviour. Understanding of Human Behaviour: Understanding human behaviour is significant for any one dealing along with human resources. This

What does operations function contribute to business, 1. What does the oper...

1. What does the operations function contribute to the business?  Answer: The answer must be that the operations function, whether it be to manufacture products or provide servi

Explain the simple rate of return on the machine, The Jackson Company has i...

The Jackson Company has invested in a machine that cost $70000, that has a useful life of seven years, and that has no salvage value at the end of its useful life. The machine is b

Explain what is the roic, (Oscar's Office Building) Oscar is considering ge...

(Oscar's Office Building) Oscar is considering getting into the real estate business. He's looking at buying an existing office building for $1.8 million in cash. He wants to estim

Describe how investigators may go about collecting evidence, Discuss the le...

Discuss the legality of the hacker's actions as described in the "Hacking into Harvard" article. Explain how investigators may go about collecting evidence if a crime was thought t

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd