Question: Two servers in a restaurant predict how many guests will come for dinner in the next four days. The first server predicts the number of
Two servers in a restaurant predict how many guests will come for dinner in the next four days. The first server predicts the number of guests to be 23 for day 1, 35 for day 2, 30 for day 3, and 28 for day 4. The second server predicts 26, 27, 28, and 29 for the four respective days. The actual attendance turns out to be 30, 22, 31, and 25. Who has the bigger forecast bias? What are the MSE and the MAE for the two servers?
Step by Step Solution
3.37 Rating (169 Votes )
There are 3 Steps involved in it
The calculations in the table below show that Server 1 has an average forecast error of ... View full answer
Get step-by-step solutions from verified subject matter experts
Document Format (1 attachment)
2040_605b076950969_837997.xlsx
300 KBs Excel File
