The Mean Square Error (MSE) for the Forecasts Shown in the Following

question 28

Multiple Choice

The mean square error (MSE) for the forecasts shown in the following table is: $\begin{array} { | l | l | l | } \hline \text { Month } & \text { Forecast Demand } & \text { Actual Demand } \\\hline \text { April } & 170 & 180 \\\hline \text { May } & 225 & 200 \\\hline \text { June } & 210 & 200 \\\hline \text { July } & 260 & 240 \\\hline \text { August } & 200 & 230 \\\hline\end{array}$

• A) more than 250 but less than or equal to 300.
• B) more than 300 but less than or equal to 350.
• C) more than 350 but less than or equal to 400.
• D) more than 400 but less than or equal to 450.

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Definitions:

Macroenvironment

The broader, external forces that affect the operations and performance of businesses and markets, including economic, political, and social factors.

Culture

The set of shared attitudes, values, goals, and practices that characterizes an institution, organization, or group, influencing behaviors and perceptions.

Company Capabilities

The skills, resources, and strengths that allow a business to execute strategies and achieve its objectives effectively.

Country Culture

Entails easy-to-spot visible nuances that are particular to a country, such as dress, symbols, ceremonies, language, colors, and food preferences, and subtler aspects, which are trickier to identify.