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. LOADING... Click the icon to view the unemployment rate data. Question content area bottom Part 1 Find the MAD for the 3-month moving average forecast. MAD=enter your response here (Type an integer or decimal rounded to three decimal places as needed.) Year Month Rate(%) 2014 Jan 7.7 2014 Feb 8.2 2014 Mar 8.9 2014 Apr 9.2 2014 May 9.5 2014 Jun 9.5 2014 Jul 9.5 2014 Aug 9.7 2014 Sep 9.9 2014 Oct 9.8 2014 Nov 9.7 2014 Dec 9.9 2015 Jan 9.7 2015 Feb 9.8 2015 Mar 9.7 2015 Apr 9.9 2015 May 9.5 2015 Jun 9.5 2015 Jul 9.4 2015 Aug 9.6 2015 Sep 9.7 2015 Oct 9.5 2015 Nov 9.9 2015 Dec 9.3 2016 Jan 9.1 2016 Feb 8.9 2016 Mar 8.9 2016 Apr 9.1 2016 May 8.9 2016 Jun 9.3 2016 Jul 8.9 2016 Aug 8.9 2016 Sep 9.2 2016 Oct 9.1 2016 Nov 8.7 2016 Dec 8.5 2017 Jan 8.3 2017 Feb 8.4 2017 Mar 8.4 2017 Apr 8.3 2017 May 8.4 2017 Jun 8.2 2017 Jul 8.1 2017 Aug 8.1 2017 Sep 7.7 2017 Oct 8.1 2017 Nov 7.9 2017 Dec 7.7
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. LOADING... Click the icon to view the unemployment rate data. Question content area bottom Part 1 Find the MAD for the 3-month moving average forecast. MAD=enter your response here (Type an integer or decimal rounded to three decimal places as needed.) Year Month Rate(%) 2014 Jan 7.7 2014 Feb 8.2 2014 Mar 8.9 2014 Apr 9.2 2014 May 9.5 2014 Jun 9.5 2014 Jul 9.5 2014 Aug 9.7 2014 Sep 9.9 2014 Oct 9.8 2014 Nov 9.7 2014 Dec 9.9 2015 Jan 9.7 2015 Feb 9.8 2015 Mar 9.7 2015 Apr 9.9 2015 May 9.5 2015 Jun 9.5 2015 Jul 9.4 2015 Aug 9.6 2015 Sep 9.7 2015 Oct 9.5 2015 Nov 9.9 2015 Dec 9.3 2016 Jan 9.1 2016 Feb 8.9 2016 Mar 8.9 2016 Apr 9.1 2016 May 8.9 2016 Jun 9.3 2016 Jul 8.9 2016 Aug 8.9 2016 Sep 9.2 2016 Oct 9.1 2016 Nov 8.7 2016 Dec 8.5 2017 Jan 8.3 2017 Feb 8.4 2017 Mar 8.4 2017 Apr 8.3 2017 May 8.4 2017 Jun 8.2 2017 Jul 8.1 2017 Aug 8.1 2017 Sep 7.7 2017 Oct 8.1 2017 Nov 7.9 2017 Dec 7.7
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
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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.
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Question content area bottom
Part 1
Find the MAD for the 3-month moving average forecast.
MAD=enter your response here
(Type an integer or decimal rounded to three decimal places as needed.)Year Month Rate(%)
2014 Jan 7.7
2014 Feb 8.2
2014 Mar 8.9
2014 Apr 9.2
2014 May 9.5
2014 Jun 9.5
2014 Jul 9.5
2014 Aug 9.7
2014 Sep 9.9
2014 Oct 9.8
2014 Nov 9.7
2014 Dec 9.9
2015 Jan 9.7
2015 Feb 9.8
2015 Mar 9.7
2015 Apr 9.9
2015 May 9.5
2015 Jun 9.5
2015 Jul 9.4
2015 Aug 9.6
2015 Sep 9.7
2015 Oct 9.5
2015 Nov 9.9
2015 Dec 9.3
2016 Jan 9.1
2016 Feb 8.9
2016 Mar 8.9
2016 Apr 9.1
2016 May 8.9
2016 Jun 9.3
2016 Jul 8.9
2016 Aug 8.9
2016 Sep 9.2
2016 Oct 9.1
2016 Nov 8.7
2016 Dec 8.5
2017 Jan 8.3
2017 Feb 8.4
2017 Mar 8.4
2017 Apr 8.3
2017 May 8.4
2017 Jun 8.2
2017 Jul 8.1
2017 Aug 8.1
2017 Sep 7.7
2017 Oct 8.1
2017 Nov 7.9
2017 Dec 7.7
2014 Jan 7.7
2014 Feb 8.2
2014 Mar 8.9
2014 Apr 9.2
2014 May 9.5
2014 Jun 9.5
2014 Jul 9.5
2014 Aug 9.7
2014 Sep 9.9
2014 Oct 9.8
2014 Nov 9.7
2014 Dec 9.9
2015 Jan 9.7
2015 Feb 9.8
2015 Mar 9.7
2015 Apr 9.9
2015 May 9.5
2015 Jun 9.5
2015 Jul 9.4
2015 Aug 9.6
2015 Sep 9.7
2015 Oct 9.5
2015 Nov 9.9
2015 Dec 9.3
2016 Jan 9.1
2016 Feb 8.9
2016 Mar 8.9
2016 Apr 9.1
2016 May 8.9
2016 Jun 9.3
2016 Jul 8.9
2016 Aug 8.9
2016 Sep 9.2
2016 Oct 9.1
2016 Nov 8.7
2016 Dec 8.5
2017 Jan 8.3
2017 Feb 8.4
2017 Mar 8.4
2017 Apr 8.3
2017 May 8.4
2017 Jun 8.2
2017 Jul 8.1
2017 Aug 8.1
2017 Sep 7.7
2017 Oct 8.1
2017 Nov 7.9
2017 Dec 7.7
Expert Solution
Step 1
Given information:
Year | Month | Rate(%) |
2014 | January | 7.7 |
2014 | February | 8.2 |
2014 | March | 8.9 |
2014 | April | 9.2 |
2014 | May | 9.5 |
2014 | June | 9.5 |
2014 | July | 9.5 |
2014 | August | 9.7 |
2014 | September | 9.9 |
2014 | October | 9.8 |
2014 | November | 9.7 |
2014 | December | 9.9 |
2015 | January | 9.7 |
2015 | February | 9.8 |
2015 | March | 9.7 |
2015 | April | 9.9 |
2015 | May | 9.5 |
2015 | June | 9.5 |
2015 | July | 9.4 |
2015 | August | 9.6 |
2015 | September | 9.7 |
2015 | October | 9.5 |
2015 | November | 9.9 |
2015 | December | 9.3 |
2016 | January | 9.1 |
2016 | February | 8.9 |
2016 | March | 8.9 |
2016 | April | 9.1 |
2016 | May | 8.9 |
2016 | June | 9.3 |
2016 | July | 8.9 |
2016 | August | 8.9 |
2016 | September | 9.2 |
2016 | October | 9.1 |
2016 | November | 8.7 |
2016 | December | 8.5 |
2017 | January | 8.3 |
2017 | February | 8.4 |
2017 | March | 8.4 |
2017 | April | 8.3 |
2017 | May | 8.4 |
2017 | June | 8.2 |
2017 | July | 8.1 |
2017 | August | 8.1 |
2017 | September | 7.7 |
2017 | October | 8.1 |
2017 | November | 7.9 |
2017 | December | 7.7 |
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