Three forecasting methods are considered and all three show comparable residual diagnostic results. Mean Absolute Percent...
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Three forecasting methods are considered and all three show comparable residual diagnostic results. Mean Absolute Percent Error (MAPE) is calculated In-sample (training dataset with 240 time periods), Out-of-sample (testing dataset with 60 time periods) and All data (training + testing dataset with a total of 300 time periods) and provided in the table below. In-Sample MAPE Out-of-Sample MAPE Training + Testing data Forecasting Method 1 6.78% 8.32% 7.09% Forecasting Method 2 8.24% 7.53% 8.10% Forecasting Method 3 7.14% 7.36% What is the out-of-sample MAPE for forecasting method 3? Three forecasting methods are considered and all three show comparable residual diagnostic results. Mean Absolute Percent Error (MAPE) is calculated In-sample (training dataset with 240 time periods), Out-of-sample (testing dataset with 60 time periods) and All data (training + testing dataset with a total of 300 time periods) and provided in the table below. In-Sample MAPE Out-of-Sample MAPE Training + Testing data Forecasting Method 1 6.78% 8.32% 7.09% Forecasting Method 2 8.24% 7.53% 8.10% Forecasting Method 3 7.14% 7.36% What is the out-of-sample MAPE for forecasting method 3?
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