The accompanying dataset provides data on monthly unemployment rates for a certain region over four years. Compare 3- and 12-month moving average forecasts using the MAD criterion. Which of the two models yields better results? Explain. YearMonthRate(%)2011Jan7.92011Feb8.32011Mar8.72011Apr8.92011May9.52011Jun9.52011Jul9.62011Aug9.72011Sep9.62011Oct9.92011Nov9.72011Dec9.82012Jan9.82012Feb9.72012Mar9.72012Apr9.82012May9.52012Jun9.52012Jul9.42012Aug9.52012Sep9.42012Oct9.62012Nov9.82012Dec9.22013Jan8.92013Feb9.12013Mar8.92013Apr8.92013May9.12013Jun9.12013Jul9.12013Aug9.22013Sep9.12013Oct8.82013Nov8.72013Dec8.32014Jan8.22014Feb8.22014Mar8.22014Apr7.92014May8.32014Jun8.32014Jul8.42014Aug7.92014Sep7.92014Oct7.82014Nov7.72014Dec7.8 Find the MAD for the 3-month moving average forecast. MAD=nothing(Type an integer or decimal rounded to three decimal places as needed.)Find the MAD for the 12-month moving average forecast. MAD=nothing(Type an integer or decimal rounded to three decimal places as needed.)Which of the two models yields better results? Explain.

Name: The accompanying dataset provides data on monthly unemployment rates f
Uploaded: 2024-03-20T07:07:00.000Z
Channel: Bartleby
Description: The accompanying dataset provides data on monthly unemployment rates for a certain region over four years. Compare 3- and 12-month moving average forecasts using the MAD criterion. Which of the two models yields better results? Explain. YearMonthRate

Using Excel, Find the average of first 3 observation and store it corresponding to 3rd row of the…

Answered: The accompanying dataset provides data…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Concept explainers

Topic Video

Question

The accompanying dataset provides data on monthly unemployment rates for a certain region over four years. Compare 3- and 12-month moving average forecasts using the MAD criterion. Which of the two models yields better results? Explain.

Year	Month	Rate(%)
2011	Jan	7.9
2011	Feb	8.3
2011	Mar	8.7
2011	Apr	8.9
2011	May	9.5
2011	Jun	9.5
2011	Jul	9.6
2011	Aug	9.7
2011	Sep	9.6
2011	Oct	9.9
2011	Nov	9.7
2011	Dec	9.8
2012	Jan	9.8
2012	Feb	9.7
2012	Mar	9.7
2012	Apr	9.8
2012	May	9.5
2012	Jun	9.5
2012	Jul	9.4
2012	Aug	9.5
2012	Sep	9.4
2012	Oct	9.6
2012	Nov	9.8
2012	Dec	9.2
2013	Jan	8.9
2013	Feb	9.1
2013	Mar	8.9
2013	Apr	8.9
2013	May	9.1
2013	Jun	9.1
2013	Jul	9.1
2013	Aug	9.2
2013	Sep	9.1
2013	Oct	8.8
2013	Nov	8.7
2013	Dec	8.3
2014	Jan	8.2
2014	Feb	8.2
2014	Mar	8.2
2014	Apr	7.9
2014	May	8.3
2014	Jun	8.3
2014	Jul	8.4
2014	Aug	7.9
2014	Sep	7.9
2014	Oct	7.8
2014	Nov	7.7
2014	Dec	7.8

Find the MAD for the 3-month moving average forecast.

MAD=nothing

(Type an integer or decimal rounded to three decimal places as needed.)

Find the MAD for the 12-month moving average forecast.

MAD=nothing

(Type an integer or decimal rounded to three decimal places as needed.)

Which of the two models yields better results? Explain.

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Hypothesis Tests and Confidence Intervals for Proportions$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions