Describe briefly the following method of Out of Sample forecast criterion 1... Root Mean Square error...

Describe briefly the following method of Out of Sample forecast criterion
1... Root Mean Square error
2...Mean absolute error
3...Mean absolute percentage error
4...Maximum Absolute Error
5...Maximum Absolute Percentage error.

Write down their formulae and discuss briefly how you interpret them

Solutions

Expert Solution

Colby Messinger answered 1 year ago

Next > < Previous

Related Solutions

1.at is the root mean square error (RMSE) for a "next period forecast" using 3-month moving...

1.at is the root mean square error (RMSE) for a "next period forecast" using 3-month moving average model for these three years of demand? Give your answer as an integer. 2.at is the root mean square error (RMSE) for a "next period forecast" using naive model for these three years of demand? Give your answer as an integer 3.What is the root mean square error (RMSE) for a "next period forecast" using cumulative model for these three years of demand?...

Select five metrics used to assess performance (e.g. error, root mean square error (RMSE), bias, etc.)....

Select five metrics used to assess performance (e.g. error, root mean square error (RMSE), bias, etc.). Discuss advantages and disadvantages of each metric

The _ is the square root of the arithmetic average of the squared deviations from the mean. In other words, it is simply the square root of the __.

The _____________ is the square root of the arithmetic average of the squared deviations from the mean. In other words, it is simply the square root of the ______________.data spread; population standard deviationStandard deviation; data spreadpopulation standard deviation; variancevariance; standard deviation

Graph the square root of the following function. State the domain and range of the square root of the function.

Graph the square root of the following function. State the domain and range of the square root of the function.y = -2x + 4

The “divide and average” method, an old time method for approximating the square root of any...

The “divide and average” method, an old time method for approximating the square root of any positive number a, can be formulated as x = (x + a/x) / 2 Write a well-structured M-file function based on the while…break loop structure to implement this algorithm. At each step estimate the error in your approximation as ε = abs(( Xnew − Xold )/Xnew Repeat the loop until e is less than or equal to a specified value. Design your program so...

1.a.)Use the assumed Babylonian square root algorithm (also known as Archimedes’ method) √ a 2 ±...

1.a.)Use the assumed Babylonian square root algorithm (also known as Archimedes’ method) √ a 2 ± b ≈ a ± b/2a to show that √ 3 ≈ 1; 45 by beginning with the value a = 2. Find a three-sexagesimal-place approximation to the reciprocal of 1; 45 and use it to calculate a three-sexagesimal-place approximation to √ 3. 1.b)An iterative procedure for closer approximations to the square root of a number that is not a square was obtained by Heron...

Briefly describe the following steps of the forecasting process. 1. determine the purpose of forecast 2....

Briefly describe the following steps of the forecasting process. 1. determine the purpose of forecast 2. Establish time horizon 3.Gather &analyze relevant historical data 4. Select a forecasting technique 5. Prepare forecast 6. Monitor the forecast

Briefly describe the process of determining the validity of a criterion-referenced test.

Briefly describe the fundamental attribution error.

Compute the mean square error using equation s2 = MSE =

Consider the data. xi 1 2 3 4 5 yi 4 8 6 12 14 (a) Compute the mean square error using equation s2 = MSE = SSE n − 2 . (Round your answer to two decimal places.) (b) Compute the standard error of the estimate using equation s = MSE = SSE n − 2 . (Round your answer to three decimal places.) (c) Compute the estimated standard deviation of b1 using equation sb1 = s Σ(xi −...

Subjects