A firm has prepared two different models to be used for forecasting. One has a fairly large root mean squared error (RMSE), the other has a much smaller RMSE. Which forecast would you expect to give the more accurate prediction? Explain.

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The Answer of A firm has prepared two different models to be used for forecasting. One has a fairly large root mean squared error (RMSE), the other has a much smaller RMSE. Which forecast would you expect to give the more accurate prediction? Explain.

A Firm Has Prepared Two Different Models to Be Used