An analyst tested a forecasting model and identified the following performance metrics. What do the results tell you about the errors in the forecasting model? Be as descriptive as possible, given the results.
An analyst tested a forecasting model and identified the following performance metrics. What do the results tell you about the errors in the forecasting model? Be as descriptive as possible, given the results.
Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
1st Edition
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:HOUGHTON MIFFLIN HARCOURT
Chapter2: Solving Linear Inequalities
Section2.5: Solving Compound Inequalities
Problem 40E
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Question
An analyst tested a forecasting model and identified the following performance metrics. What do the results tell you about the errors in the forecasting model? Be as descriptive as possible, given the results.
![Predictive Accuracy Measures
Average Error
Mean Absolute Deviation (MAD)
Mean Absolute Percentage Error (MAPE)
Root Mean Standard Error (RMSE)
Results
4.12
4.12
6.00%
428.20](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F23969dd8-59cd-4f52-9827-c0387c402017%2F08e7316d-89fb-4158-abc6-6decdc326cbe%2F1i6ppmp_processed.png&w=3840&q=75)
Transcribed Image Text:Predictive Accuracy Measures
Average Error
Mean Absolute Deviation (MAD)
Mean Absolute Percentage Error (MAPE)
Root Mean Standard Error (RMSE)
Results
4.12
4.12
6.00%
428.20
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