Question: Watch the video and answer the question listed below. Part of the process that Deckers Outdoor Corporation follows in forecasting demand involves revisiting the past
Watch the video and answer the question listed below.
Part of the process that Deckers Outdoor Corporation follows in forecasting demand involves revisiting the past year's predictions to see how closely they matched actual sales. What are some measures of forecast accuracy that can be used to do this?
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Part
Select all the correct measures of forecasting accuracy below.
A
The Mean Absolute Percentage ErrorMAPE which penalizes large forecast errors because the errors are squared, but is not in the same units as the data.
B
The Mean Squared ErrorMSE which penalizes large forecast errors because the errors are squared, but is not in the same units as the data.
C
The Mean Absolute DeviationMAD which provides a percentage that relates the size of the errors to the magnitudes of the data values.
D
The Mean Squared ErrorMSE which is in the same units as the data and is dependent on the magnitude of the data values.
E
The Mean Absolute Percentage ErrorMAPE which provides a percentage that relates the size of the errors to the magnitudes of the data values.
F
The Mean Absolute DeviationMAD which is in the same units as the data and is dependent on the magnitude of the data values.
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