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Question 3c: Based on the ME, MSE and MAPE for the 3 different methods shown in...

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General Management


Question 3c: Based on the ME, MSE and MAPE for the 3 differentmethods shown in the Rankings worksheet, which method would yourecommend. Define a weakness and strength of each method, based onthe ME, MSE and MAPE and total forecast of population for theyear.

3 different methodschosen
RegressionHW AdditiveHW Multiplicative
ME208764222-895Mean Error, but not MAD
RMSE11954010228878353MSE
MAPE3.30%2.60%1.91%MAPE
Rank321

Answer & Explanation Solved by verified expert
4.1 Ratings (882 Votes)
For ME HW Multiplicative HW Additive Regression For RMSE HW Multiplicative HW Additive Regression For MAPE HW Multiplicative HW Additive Regression So the best method is HW Multiplicative second best is HW    See Answer
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