Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Two different forecasting methods are applied to the same data set. If the Mean absolute deviation is higher for the second method and the Mean

Two different forecasting methods are applied to the same data set. If the Mean absolute deviation is higher for the second method and the Mean square error is higher for the first method, what does this indicate? Both methods produce unacceptably high error rates. The first method is less accurate than the second method. The first method produces more extreme errors than the second method. The second method produces more extreme errors than the first method. None of the above (WRONG)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Linear Algebra With Applications

Authors: W. Keith Nicholson

7th Edition

978-0070985100, 70985103

More Books

Students also viewed these Mathematics questions

Question

Is the graphic clearly labeled? (p. 195)

Answered: 1 week ago