Two Forecasting Models Were Used to Predict the Future Values

Essay

Two forecasting models were used to predict the future values of a time series. These are shown in the following table, together with the actual values. $$\begin{array}{l}\text { Forecast Value } F _ { t } \quad \text { Actual Value } y _ { t }\\\begin{array} { | c c | c | } \hline \text { Model 1 } & \text { Model } 2 & \\\hline 8.2 & 7.7 & 7.6 \\7.8 & 8.5 & 8.2 \\7.0 & 8.5 & 7.6 \\9.6 & 9.0 & 10.3 \\\hline\end{array}\end{array}$$ Compute MAD and SSE for each model to determine which was more accurate.