Using the Moving absolute deviation(MAD), Mean square error(MSE) and Mean absolute percentage error(MAPE), compare the forecasted data to the actual data for 2019 and comment on the accuracy of the forecasts. Year Quarter Unemployment Seasonalized |F - Aforecast2019MAD =MSE =MAPE =123411.663434.3241.1744rate8.27127.59017.45307.5652= 2.92|= 8.58x 100 29.3510.92910.93210.12510.556(F - A)²8.2712 10.929 7.065= 2.6587.5901 10.932 11.169= 3.3427.4530 10.125 7.140= 2.6727.5652 10.556 8.946= 2.99111.6634= 2.91634.324= 8.58(F - A)/A2.6588.27123.34210.9322.67210.1252.991= 0.321= 0.306= 0.264= 0.28310.5561.1744= 29.35x 100

Given are different forecast errors of a model. MAD=2.92 MSE=8.58 MAPE=29.35

Using the Moving absolute deviation(MAD), Mean square error(MSE) and Mean absolute percentage error(MAPE), compare the forecasted data to the actual data for 2019 and comment on the accuracy of the forecasts.

Using the Moving absolute deviation(MAD), Mean square error(MSE) and Mean absolute percentage error(MAPE), compare the forecasted data to the actual data for 2019 and comment on the accuracy of the forecasts.

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter5: Inverse, Exponential, And Logarithmic Functions

Section5.6: Exponential And Logarithmic Equations

Problem 6E

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Question

Year Quarter Unemployment Seasonalized |F - A
forecast
2019
MAD =
MSE =
MAPE =
1
2
3
4
11.663
4
34.32
4
1.174
4
rate
8.2712
7.5901
7.4530
7.5652
= 2.92|
= 8.58
x 100 29.35
10.929
10.932
10.125
10.556
(F - A)²
8.2712 10.929 7.065
= 2.658
7.5901 10.932 11.169
= 3.342
7.4530 10.125 7.140
= 2.672
7.5652 10.556 8.946
= 2.991
11.663
4
= 2.916
34.32
4
= 8.58
(F - A)/A
2.658
8.2712
3.342
10.932
2.672
10.125
2.991
= 0.321
= 0.306
= 0.264
= 0.283
10.556
1.174
4
= 29.35
x 100

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