Two forecasting models were used to predict the future values of a time series.The forecasts are shown below with the actual values: $$\begin{array} { l l l }
\text { Forecast Model 1 } & \text { Forecast Model 2 } & \text { Actual Value } \
7.5 & 6.3 & 6.0 \
6.3 & 6.7 & 6.6 \
5.4 & 7.1 & 7.3 \
8.2 & 7.5 & 9.4
\end{array}$$
-Calculate the mean absolute deviation (MAD)for Model 1.

Question

Two forecasting models were used to predict the future values of a time series.The forecasts are shown below with the actual values: $$\begin{array} { l l l } 
\text { Forecast Model 1 } & \text { Forecast Model 2 } & \text { Actual Value } \
7.5 & 6.3 & 6.0 \
6.3 & 6.7 & 6.6 \
5.4 & 7.1 & 7.3 \
8.2 & 7.5 & 9.4
\end{array}$$
-Calculate the mean absolute deviation (MAD)for Model 1.

Quizplus · Accepted Answer

The Answer of Two forecasting models were used to predict the future values of a time series.The forecasts are shown below with the actual values: $$\begin{array} { l l l } 
\text { Forecast Model 1 } & \text { Forecast Model 2 } & \text { Actual Value } \
7.5 & 6.3 & 6.0 \
6.3 & 6.7 & 6.6 \
5.4 & 7.1 & 7.3 \
8.2 & 7.5 & 9.4
\end{array}$$
-Calculate the mean absolute deviation (MAD)for Model 1.

Two Forecasting Models Were Used to Predict the Future Values