This tutorial demonstrates the calculation and interpretation of Theil's U. The statistic is calculated as the square root of the ratio of the sum of the squared errors, forecasting model to naive forecasting. Values less than 1 indicate the model is superior, while values greater than 1 indicate the model is worse than naive forecasting. Theil's U is a statistic used to evaluate whether or not a forecasting model is superior to naive forecasting. This video is a continuation of and covers the evaluation of a forecaasting method with Theil's U. If you need to, you can adjust the column widths to see all the data. For formulas to show results, select them, press F2, and then press Enter. Download Microsoft Office 2008 12.3 for Mac from our website for free.
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If you are not familiar with time series forcasting it will be helpful to watch these two videos first. Copy the example data in the following table, and paste it in cell A1 of a new Excel worksheet. Work with texts, data sheets, presentations and other types of documents in the office suite containing Microsoft products such as Word, an advanced text editor, Excel for modifying CSV files and data tables, PowerPoint for slideshow creation, Entourage, etc. Part II can be found here, and discusses weighted moving averages and single exponential smoothing. Part I can be found here and discusses moving averages, calculation and interpretation. This is the third part in a series on forecasting. In Excel, you can sort numbers, text, weekdays, months, or items from custom lists that you create. Hampshire College Information Technology 6,368 views. Excel 2008 for Mac-Text to Columns - Duration: 2:28. This is a video demonstration of Excel weighted moving average and single exponential smoothing forecasting. Excel 2008 for Mac- Resizing and Hiding Rows & Columns. For versions of Excel: Excel for Office 365, Excel for Office 365 for Mac, Excel 2016, Excel 2016 for Mac, Excel 2013, Excel 2011 for Mac, Excel 2010, Excel 2008 for Mac, Excel 2007
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