Lower values are preferred. Errors do not cancel out each other. They are unitless. MAE stands for Mean Absolute Error. MAE is always greater than SSE. None can be negative. OA positive value means the forecasting method is biased. SE is the scaled down version of MAE. They can be used to compare two applications of the same forecasting method. Erron

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Which of the following statements about MAE and SSE is
FALSE? Check all that apply.
O Lower values are preferred.
Errors do not cancel out each other.
They are unitless.
MAE stands for Mean Absolute Error.
O MAE is always greater than SSE.
None can be negative.
A positive value means the forecasting method is biased.
O SSE is the scaled down version of MAE.
They can be used to compare two applications of the same
forecasting method.
SSE stands for Sum of Standard Errors.
Transcribed Image Text:Which of the following statements about MAE and SSE is FALSE? Check all that apply. O Lower values are preferred. Errors do not cancel out each other. They are unitless. MAE stands for Mean Absolute Error. O MAE is always greater than SSE. None can be negative. A positive value means the forecasting method is biased. O SSE is the scaled down version of MAE. They can be used to compare two applications of the same forecasting method. SSE stands for Sum of Standard Errors.
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