A Time Series Analysis Was Performed to Determine the Number

question 7

Multiple Choice

A time series analysis was performed to determine the number of new online customers that joined the 'Jelly of the Month Club'.The actual number of new customers, the forecast values and the error terms are presented in the following table.The mean absolute deviation (MAD) for this forecast is ___________. $\begin{array}{|r|r|r|r|}\hline \text { Monthh } & \text { Actual } & \text { Forecast} & \text { Error } \\\hline \text { July } &4 & & \\\hline \text { Aug } & 6 & 5 &-1 \\\hline \text { Sept } & 3 & 6 &3 \\\hline \text { Oct } & 9 & 8& -1 \\\hline \text { Nov } &8 &9& 1 \\\hline\end{array}$

• A)-0.50
• B)0.50
• C)1.50
• D)7.00
• E)3.00

---

Definitions:

Upward Social Comparison

The process of comparing oneself with others who are perceived to be better off or more successful, which can affect self-esteem and motivation.

Motivates

The actions or processes that stimulate someone to act towards achieving a goal or satisfying a need or desire.

Financial Situation

The current state of an individual's or organization's money management, including assets, liabilities, income, and expenses.

Instrumental Support

Assistance provided to someone in the form of tangible help or services, such as financial aid or providing resources.