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:

Cultural Differences

Variations in the norms, values, behaviors, and practices among different groups, often related to geographical regions, nationalities, or ethnic backgrounds.

Treatments

Medical or psychological interventions designed to relieve or heal a disorder, illness, or condition.

Psychoanalytic Model

A theoretical approach that seeks to explain personality, motivation, and psychological disorders by focusing on unconscious determinants of behavior.

Social Skills

Abilities necessary to behave in a socially acceptable manner and to effectively communicate with others, including both verbal and non-verbal communication.