is MAD autocorrelation a forecast method?

Expert Solution

No. it is not forecast method.

Mean absolute deviation - MAD.

MAD (mean absolute deviation) for forecasts shows the deviation of forecasted demand from actual demand. This is the mean deviation per period in absolute terms between a number of period forecasts and the corresponding period demand.

autocorrelation :-

the random errors in the model are often positively correlated over time, so that each random error is more likely to be similar to the previous random error that it would be if the random errors were independent of one another. This phenomenon is known as autocorrelation (or serial correlation) and can sometimes be detected by plotting the model residuals versus time.

Therefore MAD autocorrelation are not forecasting methods.they used to evaluate model or to fit a model used.

orchestra answered 2 years ago

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