Two Forecasting Models Were Used to Predict the Future Values

question 8

Essay

Two forecasting models were used to predict the future values of a time series.The forecasts are shown below with the actual values: Which model is the most accurate? Why?

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Definitions:

Internal Attribution

The process of explaining one's own or others' behavior as due to personal, intrinsic factors.

External-Unstable

A causation attribution in psychology where an individual attributes events to causes outside themselves that are variable or subject to change.

Internal-Stable

A characteristic or attribute that is considered innate and constant within an individual or situation.

Bad Teacher

A term typically used to describe an educator who is unsuccessful in engaging or educating their students effectively.