Jim and John run a barber shop. Every night, both of them predict how many guests willcome on the next day. Over the last four days, they have collected some data about theirpredictions and the actual outcome. Jim predicts the number of guests to be 56 for day 1,50 for day 2, 45 for day 3, and 59 for day 4. John predicts 47, 49, 51, and 51 for the four respective days. The actual numbers of guests turn out to be 45, 51, 41, and 61. Who hasthe bigger forecast bias? What are the MSE and the MAE for Jim and John?

Jim and John run a barber shop. Every night, both of them predict how many guests willcome on the next day. Over the last four days, they have collected some data about theirpredictions and the actual outcome. Jim predicts the number of guests to be 56 for day 1,50 for day 2, 45 for day 3, and 59 for day 4. John predicts 47, 49, 51, and 51 for the four respective days. The actual numbers of guests turn out to be 45, 51, 41, and 61. Who hasthe bigger forecast bias? What are the MSE and the MAE for Jim and John?

Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015

1st Edition

ISBN:9781680331141

Author:HOUGHTON MIFFLIN HARCOURT

Publisher:HOUGHTON MIFFLIN HARCOURT

Chapter11: Data Analysis And Displays

Section: Chapter Questions

Problem 1CA

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Question

Jim and John run a barber shop. Every night, both of them predict how many guests will
come on the next day. Over the last four days, they have collected some data about their
predictions and the actual outcome. Jim predicts the number of guests to be 56 for day 1,
50 for day 2, 45 for day 3, and 59 for day 4. John predicts 47, 49, 51, and 51 for the four respective days. The actual numbers of guests turn out to be 45, 51, 41, and 61. Who has
the bigger forecast bias? What are the MSE and the MAE for Jim and John?

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