Question: Which statement accurately summarizes the interpretation of Mean Absolute Deviation ( MAD ) and Mean Squared Error ( MSE ) in forecasting? Group of answer
Which statement accurately summarizes the interpretation of Mean Absolute Deviation MAD and Mean Squared Error MSE in forecasting?
Group of answer choices
MAD focuses on minimizing large errors, while MSE prioritizes minimizing small errors.
MAD highlights significant forecasting errors, while MSE operates as a meticulous accountant, diligently correcting minor discrepancies in the data.
A lower MADMSE indicates a better forecasting accuracy.
A higher MADMSE suggests a stronger fit of the forecasting model to the data.
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