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(Solution) - Refer to the results in Problem 16 12 on page 681

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Refer to the results in Problem 16.12 on page 681 and Problem 16.28 on page 692 concerning the number of Bed Bath & Beyond stores open (stored in Bed & Bath).
a. Perform a residual analysis for each model.
b. Compute the standard error of the estimate (Syx) for each model.
c. Compute the MAD for each model.
d. On the basis of (a) through (c) and the principle of parsimony, which forecasting model would you select? Discuss.


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This question was answered on: Jul 11, 2017

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