Two Forecasting Models Were Used to Predict the Future Values

question 7

Essay

Two forecasting models were used to predict the future values of a time series. These are shown in the following table, together with the actual values. $$\begin{array}{l}\text { Forecast Value } F _ { t } \quad \text { Actual Value } y _ { t }\\\begin{array} { | c c | c | } \hline \text { Model 1 } & \text { Model } 2 & \\\hline 8.2 & 7.7 & 7.6 \\7.8 & 8.5 & 8.2 \\7.0 & 8.5 & 7.6 \\9.6 & 9.0 & 10.3 \\\hline\end{array}\end{array}$$ Compute MAD and SSE for each model to determine which was more accurate.

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Definitions:

Skinner--operant Conditioning

An adaptation process in learning where the level of a behavior's intensity is recalibrated through reward systems or disciplinary actions.

Pavlov--classical Conditioning

A learning process discovered by Ivan Pavlov that occurs through associations between an environmental stimulus and a naturally occurring stimulus.

Piaget--cognitive Development

The theory proposed by Jean Piaget that describes how children develop logical thinking through a series of stages.

Retrieval Cues

Stimuli or signals that can trigger the recall of information from memory.