A Time Series with Forecast Values and Error Terms Is

question 49

Multiple Choice

A time series with forecast values and error terms is presented in the following table.The mean error (ME) for this forecast is ___________. $\begin{array}{|r|r|r|r|}\hline \text { Monthh } & \text { Actual } & \text { Forecast} & \text { Error } \\\hline \text { July } & 5 & & \\\hline \text { Aug } & 11 & 5 & 6.00 \\\hline \text { Sept } & 13 & 6.8 & 6.20 \\\hline \text { Oct } & 6 & 8.66 & -2.66 \\\hline \text { Nov } & 5 & 7.862 & -2.86 \\\hline\end{array}$

• A)1.67
• B)1.34
• C)6.68
• D)3.67
• E)2.87

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Definitions:

Company Success

The achievement of desired business goals and objectives, often measured by financial performance, market share, or innovation.

Strategic Fit

The alignment of organizational strategies, capabilities, and resources with external opportunities and threats to achieve desired outcomes.

Intercompany Scope

The range and nature of interactions and relationships between different companies within the same corporate family or business group.

Supply Chain Surplus

The difference between the value generated by the supply chain's final product to the end customer and the costs of the supply chain.