Two Forecasting Models Were Used to Predict the Future Values

question 28

Short Answer

Two forecasting models were used to predict the future values of a time series. The forecasts are shown below with the actual values.
Calculate the mean absolute deviation (MAD) for Model 2.

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Definitions:

Megaphone

A metaphor to describe a means or channel that amplifies or broadcasts messages to a wide audience.

Magnet

In marketing, refers to an offer or content that attracts potential customers by addressing their needs or interests, much like a magnet attracts ferrous objects.

Monitor

The act of closely observing or tracking activities, changes, or performances, often using tools or software, for purposes like security, quality control, or data collection.

Owned Media

Media channels that a brand has full control over, such as their websites, blogs, or social media profiles, where they can publish and distribute content directly.