If you were selecting from a variety of forecasting models based on MAD, which of the following MAD values from the same data would reflect the most accurate model?
A) 0.2
B) 0.8
C) 1.0
D) 10.0
E) 100.0

Question

Quizplus · Accepted Answer

A smaller MAD value indicates that the model's forecasts are closer to the actual values, which implies greater accuracy. Therefore, the option with the smallest MAD value, 0.2, is the most accurate.

If You Were Selecting from a Variety of Forecasting Models