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:

Prediction Interval

An estimated range around a predicted value within which future observations are expected to fall with a certain probability.

Cancer Mortality

The number of deaths caused by cancer in a given population or period.

Radioactive Waste

Material that contains or is contaminated with radioisotopes at concentrations or activities greater than clearance levels as established by regulatory authorities, and for which no use is foreseen.

Confidence Interval

A range of values, derived from sample data, that is believed to contain the true population parameter with a certain level of confidence.