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Two Forecasting Models Were Used to Predict the Future Values

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Two forecasting models were used to predict the future values of a time series.These are shown in the accompanying table,together with the actual values. Two forecasting models were used to predict the future values of a time series.These are shown in the accompanying table,together with the actual values.   Compute the mean absolute deviation (MAD)and sum of squares for forecast (SSE)for each model to determine which was more accurate. Compute the mean absolute deviation (MAD)and sum of squares for forecast (SSE)for each model to determine which was more accurate.


Definitions:

Correlational Approach

A research method that examines the relationship between two or more variables to determine if they are associated, without inferring causality.

Physiological Recording

The measurement and recording of physical or biological responses, such as heart rate, muscle tension, brain activity, and other bodily functions.

Statistical Procedures

A set of methods used to collect, analyze, interpret, and present data in a meaningful way.

Research Methods

Systematic techniques used in scientific studies to collect, analyze, and interpret data.

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