Jim and John run a barber shop. Every night, both of them predict how many guests will
come on the next day. Over the last four days, they have collected some data about their
predictions and the actual outcome. Jim predicts the number of guests to be 56 for day 1,
50 for day 2, 45 for day 3, and 59 for day 4. John predicts 47, 49, 51, and 51 for the four respective days. The actual numbers of guests turn out to be 45, 51, 41, and 61. Who has
the bigger forecast bias? What are the MSE and the MAE for Jim and John?
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