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

Question

Quizplus · Accepted Answer

Mean absolute deviation is a measure of the difference between actual and forecast values. It provides an indication of the model’s accuracy, with lower MAD indicating better accuracy. Smoothing constant, trend component, and seasonal index are all components of a forecasting model, but do not directly measure the accuracy of the model.

One Measure of the Accuracy of a Forecasting Model Is