Two Forecasting Models Were Used to Predict the Future Values

question 15

Essay

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:

Ketones

Organic compounds characterized by a carbonyl group (C=O) bonded to two carbon atoms.

Imines

Chemical compounds characterized by the presence of a carbon-nitrogen double bond, with the nitrogen atom connected to a hydrogen atom or an organic radical.

Reaction

A process in which substances interact to form one or more new substances, characterized by changes in chemical or physical properties.