A forecasting model has produced the following forecasts: At the end of May the average error would be
A) 7.
B) 5.
C) 3.
D) 1.

Question

A forecasting model has produced the following forecasts:  At the end of May the average error would be
A) 7. 
B) 5. 
C) 3. 
D) 1.

Quizplus · Accepted Answer

The average error is calculated as the mean absolute deviation (MAD) from the actual values. Without knowing the actual values, it is not possible to calculate the exact MAD. However, based on the options provided, option C (3) is the best choice as it represents the lowest average error out of the given options.

A Forecasting Model Has Produced the Following Forecasts: at the End