I’m studying for my Statistics class and need an explanation.
homework due tonight, 6 questions only, question about MAD,MSE,MAPE . and questions like below.
The accompanying dataset provides data on monthly unemployment rates for a certain region over four years. Compare 3- and 12-month moving average forecasts using the MAD criterion. Which of the two models yields better results? Explain.
Click the icon to view the unemployment rate data.
Find the MAD for the 3-month moving average forecast.
(Type an integer or decimal rounded to three decimal places as needed.)