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Which of the following models will you choose for forecasting the sales of the mobile phone?Model 1 with RMSE 2.33e+02Model 2 with RMSE 0.235e+03Model 3 with RMSE 2.32+e03Model 4 with RMSE 2.33e+05Answer choicesSelect only one optionREVISITModel 3Model 2Model 1Model 4

Question

Which of the following models will you choose for forecasting the sales of the mobile phone?Model 1 with RMSE 2.33e+02Model 2 with RMSE 0.235e+03Model 3 with RMSE 2.32+e03Model 4 with RMSE 2.33e+05Answer choicesSelect only one optionREVISITModel 3Model 2Model 1Model 4

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Solution

The model you should choose for forecasting the sales of the mobile phone is the one with the lowest Root Mean Square Error (RMSE). RMSE is a standard way to measure the error of a model in predicting quantitative data. Lower values of RMSE indicate better fit.

Here are the RMSE values for each model in standard notation:

Model 1: RMSE = 233 Model 2: RMSE = 235 Model 3: RMSE = 2320 Model 4: RMSE = 233000

So, the model with the lowest RMSE is Model 1. Therefore, you should choose Model 1 for forecasting the sales of the mobile phone.

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