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. LOADING... Click the icon to view the unemployment rate data. Question content area bottom Part 1 Find the MAD for the 3-month moving average forecast. MAD=enter your response here (Type an integer or decimal rounded to three decimal places as needed.) Year Month Rate(%) 2014 Jan 7.7 2014 Feb 8.2 2014 Mar 8.9 2014 Apr 9.2 2014 May 9.5 2014 Jun 9.5 2014 Jul 9.5 2014 Aug 9.7 2014 Sep 9.9 2014 Oct 9.8 2014 Nov 9.7 2014 Dec 9.9 2015 Jan 9.7 2015 Feb 9.8 2015 Mar 9.7 2015 Apr 9.9 2015 May 9.5 2015 Jun 9.5 2015 Jul 9.4 2015 Aug 9.6 2015 Sep 9.7 2015 Oct 9.5 2015 Nov 9.9 2015 Dec 9.3 2016 Jan 9.1 2016 Feb 8.9 2016 Mar 8.9 2016 Apr 9.1 2016 May 8.9 2016 Jun 9.3 2016 Jul 8.9 2016 Aug 8.9 2016 Sep 9.2 2016 Oct 9.1 2016 Nov 8.7 2016 Dec 8.5 2017 Jan 8.3 2017 Feb 8.4 2017 Mar 8.4 2017 Apr 8.3 2017 May 8.4 2017 Jun 8.2 2017 Jul 8.1 2017 Aug 8.1 2017 Sep 7.7 2017 Oct 8.1 2017 Nov 7.9 2017 Dec 7.7

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.5: Correlation And Causation

Problem 15PPS

See similar textbooks

Question content area bottom

Part 1

Find the MAD for the 3-month moving average forecast.

MAD=enter your response here

(Type an integer or decimal rounded to three decimal places as needed.)

Year Month Rate(%)
2014 Jan 7.7
2014 Feb 8.2
2014 Mar 8.9
2014 Apr 9.2
2014 May 9.5
2014 Jun 9.5
2014 Jul 9.5
2014 Aug 9.7
2014 Sep 9.9
2014 Oct 9.8
2014 Nov 9.7
2014 Dec 9.9
2015 Jan 9.7
2015 Feb 9.8
2015 Mar 9.7
2015 Apr 9.9
2015 May 9.5
2015 Jun 9.5
2015 Jul 9.4
2015 Aug 9.6
2015 Sep 9.7
2015 Oct 9.5
2015 Nov 9.9
2015 Dec 9.3
2016 Jan 9.1
2016 Feb 8.9
2016 Mar 8.9
2016 Apr 9.1
2016 May 8.9
2016 Jun 9.3
2016 Jul 8.9
2016 Aug 8.9
2016 Sep 9.2
2016 Oct 9.1
2016 Nov 8.7
2016 Dec 8.5
2017 Jan 8.3
2017 Feb 8.4
2017 Mar 8.4
2017 Apr 8.3
2017 May 8.4
2017 Jun 8.2
2017 Jul 8.1
2017 Aug 8.1
2017 Sep 7.7
2017 Oct 8.1
2017 Nov 7.9
2017 Dec 7.7

Expert Solution

Step 1

Given information:

Year	Month	Rate(%)
2014	January	7.7
2014	February	8.2
2014	March	8.9
2014	April	9.2
2014	May	9.5
2014	June	9.5
2014	July	9.5
2014	August	9.7
2014	September	9.9
2014	October	9.8
2014	November	9.7
2014	December	9.9
2015	January	9.7
2015	February	9.8
2015	March	9.7
2015	April	9.9
2015	May	9.5
2015	June	9.5
2015	July	9.4
2015	August	9.6
2015	September	9.7
2015	October	9.5
2015	November	9.9
2015	December	9.3
2016	January	9.1
2016	February	8.9
2016	March	8.9
2016	April	9.1
2016	May	8.9
2016	June	9.3
2016	July	8.9
2016	August	8.9
2016	September	9.2
2016	October	9.1
2016	November	8.7
2016	December	8.5
2017	January	8.3
2017	February	8.4
2017	March	8.4
2017	April	8.3
2017	May	8.4
2017	June	8.2
2017	July	8.1
2017	August	8.1
2017	September	7.7
2017	October	8.1
2017	November	7.9
2017	December	7.7