In situations where you need to compare forecasting methods for different time periods, the most appropriate accuracy measure is ______.
A) mean error
B) mean absolute error
C) mean squared error
D) mean absolute percentage error

Question

Quizplus · Accepted Answer

When comparing forecasting methods for different time periods, it is best to use a relative accuracy measure such as mean absolute percentage error (MAPE). This allows for a comparison of forecasting performance regardless of the scale of the time series being forecasted. Mean error, mean absolute error, and mean squared error are all absolute measures and do not account for differences in scale between time series.

In Situations Where You Need to Compare Forecasting Methods for Different