A student created two different prediction models with the data from Practice question A, with two different error values. The results of testing both of these prediction models using the testing data are shown in the plots below. Prediction model 1 ranking_australia 150- 100- 50- 0- Prediction model 2 ranking_australia 150- 100- 50-
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- Looking at the data, how do we make a crosstabulation for the students who mentioned "Patriot"? Is there any pattern's that stand out?Explain Pseudo out-of-sample forecasting? How this method estimates real-time performance of a forecasting model?If the errors produced by a forecasting method for 3 observations are +3, +3, and −3, then what is the mean squared error?
- Explain Direct Multiperiod Forecasts? Define Direct multiperiod forecasting method?If a student studied for 25 hours, what would the predicted exam score be according to this model? Construct a 95% prediction interval for the prediction.Nature lovers’ association of Australia, launched a campaign to encourage paper less communication and/or recycling of used papers to save the trees to reduce global warming. Hence, many small businesses have scaled up their business such as new forms of online document exchanges and collecting used papers and cardboards from households and companies. Abita Recycling Ltd is one such company which is operates in Melbourne. The financial analysist of the company has estimated that the firm would make a profit if the mean weekly collection of papers and cardboards from each household exceeded 1KG. To examine the feasibility of a recycling plant, a random sample of 100 households was selected and sample mean and standard deviations are 1.1KG and 0.35KG respectively. find value of test statistics and null and alternate hypothesis.