Please all solve the question C) Compare the predictive models to a base model where every house is predictedto be sold at the average price of all the houses in the training data set, which is$260,500. Do the predictive models built by the real estate company outperform thebase model in terms of RMSE?RMSE:The predictive modelsthe base model. (Answer choices:outperform/underperform)D) Which predictive model is the better-performing model?Thepredictive model is the better performing model. (Answerchoices: first/second/base) HouseActual PricePredicted Price 1Predicted Price 212305002540002560002099002155002234002589002400002280004185500204000219400169000157500159400635050032580033980073999004236004525008310000324500305500919550018075019375010328900340000324500Question 1)A) Compute the ME, RMSE, MAD, and MAPE for the two prediction models.ME - Model1:ME - Model2:RMSE - Model1: 17714.75RMSE - Model2: 24397.96MAD - Model1: 16675MAD - Model2: 18735MPE - Model1:MPE - Model2:MAPE - Model1: 6.55MAPE - Model2: 7.33B) Are the predictive models overestimating or underestimating the actual sellingprice on average?Predictive models arethe actual selling price on average.(Answer choices: overestimating/underestimating)

House Actual Price Predicted Price 1 Predicted Price 2 230500 254000 256000 209900 215500 223400 3 258900 240000 228000 4 185500 204000 219400 5 169000 157500 159400 6 350500 325800 339800 7 399900 423600 452500 8 310000 324500 305500 9 195500 180750 193750 10 328900 340000 324500 Question 1) A) Compute the ME, RMSE, MAD, and MAPE for the two prediction models. ME - Model1: ME - Model2: RMSE - Model1: 17714.75 RMSE - Model2: 24397.96 MAD - Model1: 16675 MAD - Model2: 18735 MPE - Model1: MPE - Model2: MAPE - Model1: 6.55 MAPE - Model2: 7.33 B) Are the predictive models overestimating or underestimating the actual selling price on average? Predictive models are the actual selling price on average. (Answer choices: overestimating/underestimating)

House Actual Price Predicted Price 1 Predicted Price 2 230500 254000 256000 209900 215500 223400 3 258900 240000 228000 4 185500 204000 219400 5 169000 157500 159400 6 350500 325800 339800 7 399900 423600 452500 8 310000 324500 305500 9 195500 180750 193750 10 328900 340000 324500 Question 1) A) Compute the ME, RMSE, MAD, and MAPE for the two prediction models. ME - Model1: ME - Model2: RMSE - Model1: 17714.75 RMSE - Model2: 24397.96 MAD - Model1: 16675 MAD - Model2: 18735 MPE - Model1: MPE - Model2: MAPE - Model1: 6.55 MAPE - Model2: 7.33 B) Are the predictive models overestimating or underestimating the actual selling price on average? Predictive models are the actual selling price on average. (Answer choices: overestimating/underestimating)

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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