To assess the adequacy of a forecasting model,one measure that is often used is
A)quadratic trend analysis.
B)the MAD.
C)exponential smoothing.
D)moving averages.

Question

Quizplus · Accepted Answer

The MAD (Mean Absolute Deviation) provides an absolute measure of forecast error and is a commonly used measure to assess the accuracy of forecasting models. It measures the average difference between the forecasted values and the actual values, giving a sense of the model's overall accuracy.

To Assess the Adequacy of a Forecasting Model,one Measure That