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Three forecasting methods have been used to evaluate the same economic time series. The results are Forecast from Method I Forecast from Method 2 Forecast

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

Forecast from Method I

Forecast from Method 2

Forecast from Method 3

Realized Value of the Series

223

217

210

256

289

305

320

340

430

410

390

375

134

123

112

110

190

170

ISO

225

550

520

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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