Forecast from Method 1 Realized Value of the Series Forecast from Method 2 223 210 256 289 320 340 430 390 375 134 112 110 190 150 225 550 490 525

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.3: Geometric Sequences
Problem 18E
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Two forecasting methods have been used to evaluate the same economic time series. The results are given 

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 the same forecasting technique is best? If not, why?

Forecast from
Method 1
Realized Value
of the Series
Forecast from
Method 2
223
210
256
289
320
340
430
390
375
134
112
110
190
150
225
550
490
525
Transcribed Image Text:Forecast from Method 1 Realized Value of the Series Forecast from Method 2 223 210 256 289 320 340 430 390 375 134 112 110 190 150 225 550 490 525
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