One measure of the accuracy of a forecasting model is
A) the smoothing constant.
B) a deseasonalized time series.
C) the mean absolute error.
D) a projected index value.

Question

Quizplus · Accepted Answer

The mean absolute error is a measure of the accuracy of a forecasting model as it measures the average difference between actual and forecasted values. The smoothing constant is a parameter in a forecasting model and does not directly measure accuracy. A deseasonalized time series is a way to remove seasonal patterns in data but does not directly measure accuracy. A projected index value is a forecasted value and does not measure the accuracy of the model.

One Measure of the Accuracy of a Forecasting Model Is