Question: Two forecasting methods have been used to evaluate the same economic time series.The results areForecast from Forecast from Realized ValueMethod 1 Method 2 of the

Two forecasting methods have been used to evaluate the same economic time series.The results areForecast from Forecast from Realized ValueMethod

1

Method

2

of the Series

223 210 256289 320 340430 390 375134 112 110190 150 225550 490 525

Compare the effectiveness of these methods by computing the MSE, the MAD,and the MAPE. Do each of the measures of forecasting accuracy indicate that thesame forecasting technique is best? If not, why?

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