If Theil's U is less than $1$ for some forecasting method M$,$

Forecasting method M is$,$ on average, off by less than $1\%$ from the actual data.

Forecasting method M is less accurate than the Naive $1$ forecasting method.

Forecasting method M is more accurate than the simple moving average forecasting method.

Forecasting method M is more accurate than the Naive $1$ forecasting method.

Forecasting method M is less accurate than the simple exponential smoothing forecast with $\backslash$alpha $=0\mathrm{.}5.$