The Mean Absolute Deviation (MAD)and the Sum of Squares for Forecast

question 22

Multiple Choice

The mean absolute deviation (MAD) and the sum of squares for forecast error (SSE) are the most commonly used measures of forecast accuracy.The model that forecasts the data best will usually have the:

• A)lowest MAD and highest SSE
• B)highest MAD and lowest SSE
• C)lowest MAD and SSE
• D)highest MAD and SSE

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Definitions:

Conjunction

A word used to connect clauses, sentences, or words in the same grammatical structure, such as "and," "but," and "or."

Conditional

Relating to a statement or proposition that expresses a condition, typically formulated as "if...then..."

Body Fat

The portion of the human body made up of fat tissues, which serves as a source of energy, insulation, and protection.

Air Temperature

The measure of the warmth or coldness of the air in the environment, typically recorded in degrees Celsius or Fahrenheit.