Which of the Following Measures of Forecast Accuracy Is Susceptible

question 33

Multiple Choice

Which of the following measures of forecast accuracy is susceptible to the problem of positive and negative forecast errors offsetting one another?

• A)Mean absolute error
• B)Mean forecast error
• C)Mean squared error
• D)Mean absolute percentage error

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Definitions:

Important Customer

A customer considered valuable to a business due to factors like frequent purchases, high order value, or strategic significance, warranting special attention or service.

Product vs. Service

A comparison between tangible items (products) and intangible activities (services) offered in the market.

Chicken

A type of poultry and common domesticated fowl, widely consumed as meat and eggs across the globe.

Chef

A professional cook, often the head of a kitchen, who is responsible for preparing meals in restaurants or other establishments.