Which of the Following Defines MAPE

question 15

Multiple Choice

Which of the following defines MAPE?

• A) Median absolute percentage error, a measure of a financial statement's accuracy
• B) Median absolute percentage error, a measure of a forecast's accuracy
• C) Mean absolute percentage error, a measurement of a forecast's accuracy
• D) Mean absolute percentage error, a measure of a financial statement's accuracy

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Definitions:

Natural Resources

Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.

Market Prices

The current price at which a good or service can be bought or sold in an open market, determined by supply and demand dynamics.

Economic Profits

The surplus remaining after total costs are deducted from total revenues, accounting for both explicit and implicit costs.

Productive Land Resources

Land areas that are utilized or capable of being utilized for agricultural production, mining, or other economic activities.