Two forecasting models were used to predict the future values of a time series. These are shown in the following table, together with the actual values. $$\begin{array}{l}
\text { Forecast Value } F _ { t } \quad \text { Actual Value } y _ { t }\
\begin{array} { | c c | c | }
\hline \text { Model 1 } & \text { Model } 2 & \
\hline 8.2 & 7.7 & 7.6 \
7.8 & 8.5 & 8.2 \
7.0 & 8.5 & 7.6 \
9.6 & 9.0 & 10.3 \
\hline
\end{array}
\end{array}$$ Compute MAD and SSE for each model to determine which was more accurate.

Question

Two forecasting models were used to predict the future values of a time series. These are shown in the following table, together with the actual values. $$\begin{array}{l}
\text { Forecast Value } F _ { t } \quad \text { Actual Value } y _ { t }\
\begin{array} { | c c | c | } 
\hline \text { Model 1 } & \text { Model } 2 & \
\hline 8.2 & 7.7 & 7.6 \
7.8 & 8.5 & 8.2 \
7.0 & 8.5 & 7.6 \
9.6 & 9.0 & 10.3 \
\hline
\end{array}
\end{array}$$ Compute MAD and SSE for each model to determine which was more accurate.

Quizplus · Accepted Answer

The Answer of Two forecasting models were used to predict the future values of a time series. These are shown in the following table, together with the actual values. $$\begin{array}{l}
\text { Forecast Value } F _ { t } \quad \text { Actual Value } y _ { t }\
\begin{array} { | c c | c | } 
\hline \text { Model 1 } & \text { Model } 2 & \
\hline 8.2 & 7.7 & 7.6 \
7.8 & 8.5 & 8.2 \
7.0 & 8.5 & 7.6 \
9.6 & 9.0 & 10.3 \
\hline
\end{array}
\end{array}$$ Compute MAD and SSE for each model to determine which was more accurate.

Two Forecasting Models Were Used to Predict the Future Values