In analyzing a forecast model, what is the main advantage of using the MAD instead of the MSE?
What will be an ideal response?
The MAD stands for mean absolute deviation. Its advantage is that the resulting value is in the same units as the time-series data. That is, if the time-series is in dollars, the MAD value is in dollars. The MSE stands for mean square error and is computed by averaging the squared errors. The resulting value is in squared units rather than the original units.
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What is an independent contractor? Can an independent contractor also be an agent? Explain
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