Which of the following methods gives an indication of the percentage of forecast error?
A)MAD
B)MSE
C)MAPE
D)decomposition
E)bias

Question

Quizplus · Accepted Answer

MAPE (Mean Absolute Percentage Error) gives an indication of the percentage of forecast error. MAD (Mean Absolute Deviation) and MSE (Mean Squared Error) give an indication of the magnitude of the error, but not necessarily the percentage. Decomposition and bias are not methods for measuring forecast error.

Which of the Following Methods Gives an Indication of the Percentage