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Use the following table and MS Excel to produce two forecasts for January 2020, the simple naive model and the second naive model with P=0.9. Use the predicted values (the forecasted values) from both forecasts for 2017 through 2019 to calculate the RMSE for both models. Which of the following most accurately summarizes the results? Year 2015 X 12297 2016 12770 2017 13340 2018 13993 2019 14545 2020

Use the following table and MS Excel to produce two forecasts for January 2020, the simple naive model and the second naive model with P=0.9. Use the predicted values (the forecasted values) from both forecasts for 2017 through 2019 to calculate the RMSE for both models. Which of the following most accurately summarizes the results? Year 2015 X 12297 2016 12770 2017 13340 2018 13993 2019 14545 2020

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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a) The second naive model with P=0.9 produces the best fit because it has a lower RMSE. b) The second naive model with P=0.9 produces the best fit because it has a higher RMSE. c) The second naive model with P=0.9 is less biased because it has a lower RMSE. d) The simple naive model produces the best fit because it has a lower RMSE. e) The simple naive model produces the best fit because it has a higher RMSE. f) The simple naive model is less biased because it has a lower RMSE. AKTUE Otsope Window
Transcribed Image Text:a) The second naive model with P=0.9 produces the best fit because it has a lower RMSE. b) The second naive model with P=0.9 produces the best fit because it has a higher RMSE. c) The second naive model with P=0.9 is less biased because it has a lower RMSE. d) The simple naive model produces the best fit because it has a lower RMSE. e) The simple naive model produces the best fit because it has a higher RMSE. f) The simple naive model is less biased because it has a lower RMSE. AKTUE Otsope Window
Use the following table and MS Excel to produce two forecasts for January 2020, the simple naive model and the second naive model with P=0.9. Use the predicted values (the forecasted values) from both forecasts for 2017 through 2019 to calculate the RMSE for both models. Which of the following most accurately summarizes the results? Year X 2015 12297 2016 12770 2017 13340 2018 13993 2019 14545 2020
Transcribed Image Text:Use the following table and MS Excel to produce two forecasts for January 2020, the simple naive model and the second naive model with P=0.9. Use the predicted values (the forecasted values) from both forecasts for 2017 through 2019 to calculate the RMSE for both models. Which of the following most accurately summarizes the results? Year X 2015 12297 2016 12770 2017 13340 2018 13993 2019 14545 2020
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