Question: Given forecast errors of 5, 0, -4, and 3, what is the mean absolute deviation (MAD)? Multiple Choice a. 4 b. 2 c. 2.5 d.

Given forecast errors of 5, 0, -4, and 3, what is the mean absolute deviation (MAD)?

Multiple Choice

a. 4

b. 2

c. 2.5

d. 1

e. 3

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

3 Given the following information, the efficiency is: Effective capacity = 80 units per day Design capacity = 100 units per day Actual output = 72 units per day n Select one: O a. 64% O b. 50% Oc....

Q:

The Given forecast errors of 5, 0, 4 and 3, what is the mean absolute deviation : A. 4 B. 3 C. 2.5 D. 2 E. 1

Q:

Given forecast errors of 5, 0, -4, and 3, what is the mean absolute deviation? 2 3 4 2.5

Q:

3. A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 88 percent of capacity, actual usage was 89.6 percent of capacity. A...

Q:

Data collected from a single entities across a given period called: A. Cross-sectional data B. Time series data C. Categorical and quantitative data D. Random data E. None of the choices 2. Which of...

Q:

Question 3 1 pts Given forecast errors (i.e., actual-forecast) of 4, 8, -3, what is the mean absolute deviation (MAD)? None of the answers is correct 5 O 12 3 9 1 pts

Q:

Answer using Excel a. Given an actual latest demand of 105, a previous forecast of 97, and a = 0.4, what would be the forecast for the next period using the exponential smoothing method? b. Given...

Q:

Given forecast errors of 5, 0, 4, and 3, what is the mean square error? Question 20 options: 3 4 12 12.5 50

Q:

Given forecast errors of 5, 0, -4, and 3, what is the mean squared error? A. 4.21 B. 3 C. 16.67 D. 2 E. 1

Q:

Question 1 Reliability refers to the ability of a product to perform its intended function under a prescribed set of conditions. Question 2 Which of the following would be an advantage of using a...

Q:

WAXS-D, merchandisers of musical instruments, has provided the following details: Mar. 5 Mar. 8 Mar. 13 Mar. 14 Inventory purchased on account Freight in Purchase returns Allowances by vendor Payment...

Q:

In 2022, Grider Corporation had cash receipts of $56,000 and cash disbursements of $32,000. Grider's cash balance at December 31, 2022 was $78,000. What was Grider's January 1, 2022 cash balance?

Q:

8. The transactions listed below took place at Rodriguez Cleaning Services during September 20X1. This firm cleans commercial buildings and new residential homes prior to move in for a fee....

Q:

When older adults have difficulty with transportation and communication, or may be reluctant to request needed assistance to which they are entitled, they may be in need of: Group of answer choices...