Two forecasting methods have been used to evaluate the same economic time series. The results are Forecast

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Two forecasting methods have been used to evaluate the same economic time series.

The results are Forecast from Forecast from R ealized Value Method 1 M ethod 2 of the Series 223 210 256 289 320 340 430 390 375 134 112 110 190 150 225 550 490 525 Compare the effectiveness of these methods by computing the MSE, the MAD, and the MAPE. Do each of the measures of forecasting accuracy indicate that the same forecasting technique is best? If not, why?

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Production And Operations Analysis

ISBN: 9781478623069

7th Edition

Authors: Steven Nahmias, Tava Lennon Olsen

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