Nice video. thanks. No need to wear the microphone. It amplifies your breathing which is way more distracting than the slight audio loss by not using the mic.
+eliminatorxx713xx We only need the correction if population mean is unknown. Usually we assume zero-mean errors for forecasts. So the best results are obtained with no correction, there are no mistakes in this video. Moreover, the correction does not guarantee you the best possible estimate of the std deviation, especially when the distribution is not Gaussian.
thank you for this it was very informative and better explained than my lecturer
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Aloha, and thank you so much for this video! I finally understood how to solve MAD & MSE calculations!! Keep it up and Mahalos!
Nice video. thanks. No need to wear the microphone. It amplifies your breathing which is way more distracting than the slight audio loss by not using the mic.
again better than my Uni explanation!
Thanks so much for the explanation!
Excellent! Great work
Really helpful solution
Shouldn't it be n-1 in the denominator so the MSE = 150?
+JabYoFace It is. Apparently not everyone knows that. LOL
+JabYoFace MAD is Absolute Error/n and MSE is Absolute error^2/ n-1
+JabYoFace my answer was 150 also.
+eliminatorxx713xx
We only need the correction if population mean is unknown. Usually we assume zero-mean errors for forecasts. So the best results are obtained with no correction, there are no mistakes in this video.
Moreover, the correction does not guarantee you the best possible estimate of the std deviation, especially when the distribution is not Gaussian.
What if they just have given the years and the sales? how would we calculate the MAD?
Denominator for the MSE should be n-1. At least that's according to William Stevenson, author of Operations Management (11th edition for reference).
+Hershey Aquino not n-k-1?
In my data, we are subtracting the actuals from the demand, and then calculating MAD and MSE.. is this wrong? We want to know forcast accuracy
Yaaaasss TEACH ME 🙌🏽 dammit!
thank you very much
thank you!
thanks for this vid
shouldnt the formula of mse be the formula of msd, isnt mse n-k-1??
amazing explanation thank you so much
thx A++++++++++++++++++
hello pmu students
MSE should be ( n-1 ) MSE= 150.
HUGE MISTAKE
If it's just n it will be biased.