Mean absolute deviation (MAD), mean square error (MSE), and mean absolute percentage error (MAPE) forecast error metrics generally giving similar numerical results so it does not matter which one is used.
Correct Answer:
Verified
Q43: A single moving average is most appropriate
Q44: An alternate name for planning horizon is
Q45: Seasonal patterns can occur over the weeks
Q46: Forecasts are never 100% accurate because of
Q47: A major difference between mean square error
Q49: A group of international experts published a
Q50: Trends are characterized by repeatable periods of
Q51: Random variation is the unexplained deviation of
Q52: In forecasting, irregular variation that is explainable
Q53: A long-range forecast typically covers a planning
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents