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:

Reagents

Substances used in chemical reactions to cause or analyze a reaction.

Synthetic Scheme

A specific sequence of reactions designed to construct complex molecules from simpler ones.

Flaw

An imperfection or defect in something, which might impair its functionality or reduce its effectiveness.

Continuous Random Variable

A variable that can take an infinite number of values within a given range.