The Mean Absolute Error, Mean Squared Error, and Mean Absolute

question 31

Multiple Choice

The mean absolute error, mean squared error, and mean absolute percentage error are all methods to measure the accuracy of a forecast. These methods measure forecast accuracy by

• A)determining how well a particular forecasting method is able to reproduce the time series data that are already available.
• B)using the current value to estimate how well the model generates previous values correctly.
• C)predicting the future values and wait for a pre-defined time period to examine how accurate the predictions were.
• D)adjusting the scale of the data.

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Definitions:

Creativity

The ability to think about something in novel and unusual ways and to devise unconventional solutions to problems.

Big Five Model

A personality framework identifying five core traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Extraversion

A personality trait characterized by outgoingness, high energy, and positive emotions; individuals tend to seek stimulation and enjoy social interactions.

Conscientiousness

A personality trait characterized by organization, dependability, and a strong sense of duty.