I've got something but am not 100% sure. They may be talking about a 2-day moving average forecasts and measuring these forecasts using MAD. Then the situation is as follows.
The average of the last line is 3.2.
I understand MAD, but I cannot figure out this question. Here's the information.
Daily high temperatures in St. Louis for the last week were as follows: 92, 91, 94, 95, 96, 88,90.
The mean absolute deviation based on a 2-day moving average = 3.20
How in the world is it 3.20? I've tried 100's of combinations to try to repeat this answer, but I can't do it. I'm 100% sure this is the correct answer. Can anyone please show me a step by step walk through on this problem? I've spent all day on this...
I've got something but am not 100% sure. They may be talking about a 2-day moving average forecasts and measuring these forecasts using MAD. Then the situation is as follows.
The average of the last line is 3.2.
Yep this is for forecasting. Ohhh wow. I guess I didn't understand 2-day moving average. I was trying everything I could with the last two numbers. I was even trying to divide them by 5. Now I see why it's 5 observations... I guess the keyword is "moving". Thanks a million!
Randy