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Which Summary Measure for Forecast Errors Does Not Depend on the Units

question 94

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Which summary measure for forecast errors does not depend on the units of the forecast variable?


Definitions:

Groupthink

A mental effect experienced by a collective, where the pursuit of agreement or uniformity among members leads to choices that are illogical or not functional.

Components

Fundamental parts or elements that make up a system or compound.

Attitude

A psychological tendency expressed by evaluating a particular entity with some degree of favor or disfavor.

Component

A part or element of a larger whole, usually contributing to the function or structure of something.

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