Question: Suppose you are given summary reports for three different forecasts, shown below. Use this information to answer the next 3 questions: Forecast A Forecast B

Suppose you are given summary reports for three different forecasts, shown below. Use this information to answer the next 3 questions:
Forecast A Forecast B Forecast C
CFE 6.37-11.330
AFE 0.796-1.4160
StDev 3.873.926.42
MAD 3.253.586
MAPE 6.70%7.67%13.40%
MSE 13.7214.6436
Forecast A ________
Suppose you are given summary reports for three different forecasts, shown below. Use this information to answer the next 3 questions:
Forecast A Forecast B Forecast C
CFE 6.37-11.330
AFE 0.796-1.4160
StDev 3.873.926.42
MAD 3.253.586
MAPE 6.70%7.67%13.40%
MSE 13.7214.6436
Forecast A ________
Has an overforecasting bias
Has an underforecasting bias
Has neither overforecasting nor underforecasting bias (i.e., it is unbiased)
Has both overforecasting and underforecasting bias

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!