One measure of the accuracy of a forecasting model is the
A)smoothing constant.
B)linear trend.
C)mean absolute error.
D)seasonal index.

Question

Quizplus · Accepted Answer

Mean absolute error (MAE) is a commonly used measure of accuracy for forecasting models. It calculates the average absolute difference between the actual values and the predicted values. The lower the MAE, the better the model's accuracy. Therefore, C is the best choice.

One Measure of the Accuracy of a Forecasting Model Is