The difference between a forecast and what turns out to be the true value is called the mean absolute deviation.

Name: The difference between a forecast and what turns out to be the true value is called the mean absolute deviation.
Brand: Quizplus
Rating: 4.8 (36 reviews)

Question

Quizplus · Accepted Answer

The difference between a forecast and what turns out to be the true value is called the forecast error. The mean absolute deviation is a measure of the average difference between the forecast and actual values.

The Difference Between a Forecast and What Turns Out to Be