Question: Assume that you have tried three different forecasting models. For the first, the MAD = 2.5, for the second, the MSE = 10.5, and for
Assume that you have tried three different forecasting models. For the first, the MAD = 2.5, for the second, the MSE = 10.5, and for the third, the MAPE = 2.7. We can then say:
| | | A) the third method is the best. |
| | | B) the second method is the best. |
| | | C) methods one and three are preferable to method two. |
| | | D) method two is least preferred. |
| | | E) None of the above Can you explain why it is that answer. |
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To determine which forecasting method is best or most preferred among the given options we need to understand the metrics used to evaluate them MAD MS... View full answer
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