Which of the following is not one of the commonly used summary measures for forecast errors?
A)MAE (mean absolute error)
B)MFE (mean forecast error)
C)RMSE (root mean square error)
D)MAPE (mean absolute percentage error)

Question

Quizplus · Accepted Answer

MFE (mean forecast error) is not typically used as a summary measure for forecast errors. MAE, RMSE, and MAPE are more commonly used to summarize the accuracy of forecasts by measuring different aspects of the errors in predictions.

Which of the Following Is Not One of the Commonly