All of the Following Are Used to Measure Forecast Errors

question 167

Multiple Choice

All of the following are used to measure forecast errors EXCEPT?

• A)Mean absolute difference (MAD)
• B)Mean weighted moving average (MWMA)
• C)Mean absolute percentage error (MAPE)
• D)Mean squared error (MSE)

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Definitions:

Income Effect

How shifts in the financial status of individuals or whole economies affect their purchasing desires for specific goods or services.

Price Increase

An increase in the price of products or services.

Income Effect

Variations in income for persons or within economies and how these variations modify the demand for goods or services.

Consumer's Spending

The total amount of money spent by individuals or households on goods and services within a particular period.