*ill mark brainliest*
1 answer:
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Answer:
Method 1 has bigger forecast bias.
Step-by-step explanation:
We are given the following information in the question:
Actuals:
23, 10, 15, 19
Method 1 prediction:
23, 5, 14, 20
Residuals = Predicted - Actuals
Sum of square of errors:
Mean squared error:
Method 2 prediction:
20, 13, 14, 20
Residuals = Predicted - Actuals
Sum of square of errors:
Mean squared error:
Since, mean square error of method 2 is less as compared to method 1, method 1 has bigger forecast bias.