In Forecasting,what Is the Mean Absolute Percent Error (MAPE)

question 31

Multiple Choice

In forecasting,what is the Mean Absolute Percent Error (MAPE) ?

• A)It is the difference between the forecast and actual demand.
• B)It is the average,absolute difference between the forecast and actual demand.
• C)It is the absolute error as a percentage of demand.
• D)It is the per-period average of cumulative error.

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Definitions:

Conscience

An inner feeling or voice viewed as acting as a guide to the rightness or wrongness of one's behavior.

Surface Of Awareness

Refers to the thoughts, feelings, and perceptions that are readily accessible to an individual's conscious mind.

Unconscious Mind

A component of the mind that houses thoughts, memories, and desires not within the scope of conscious awareness, influencing behavior and decisions.

Collective Unconscious

In Jung’s theory, the most inaccessible layer of the unconscious, which contains the universal experiences of humankind.