When comparing several forecasting models to determine which one best fits a particular set of data, the

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When comparing several forecasting models to determine which one best fits a particular set of data, the model that should be selected is the one

a. with the highest MSE.

b. with the MAD closest to 1.

c. with a bias of 0.

d. with the lowest MAD.

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Quantitative Analysis For Management

ISBN: 213168

12th Edition

Authors: Barry Render ,Ralph M. Stair ,Michael E. Hanna

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Question Posted: Feb 25, 2024 01:00 AM

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When comparing several forecasting models to determine which one best fits a particular set of data, the

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The correct answer is d with the lowest MAD Heres why When comparing forecasting models the most imp...View the full answer

Quantitative Analysis For Management

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