In Situations Where You Need to Compare Forecasting Methods for Different

question 19

Multiple Choice

In situations where you need to compare forecasting methods for different time periods, the most appropriate accuracy measure is ______.

• A) mean error
• B) mean absolute error
• C) mean squared error
• D) mean absolute percentage error

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Definitions:

Exports

Goods or services produced in one country and sold to buyers in another, contributing to international trade and economic globalization.

Intangibility

Intangibility refers to the characteristic of services that cannot be seen, touched, or physically measured, making them difficult to evaluate before purchase.

Spa Amenities

Features and services provided by a spa, such as massages, facials, and body treatments, aimed at enhancing the guest's relaxation and well-being.

Gross Domestic Product

The total value of all goods and services produced within a country's borders in a specific time period, serving as a measure of economic performance.