The Dispersion of Forecast Errors Is Measured by Both MAD

question 55

Short Answer

The dispersion of forecast errors is measured by both MAD and MSE, which behave differently in the way they emphasize errors. ________ gives larger weight to errors and ________ gives smaller weight to errors.

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Definitions:

Lubricating Oils

are substances applied to mechanical systems to reduce the friction between moving parts, aiding in smoother operation and longevity of machinery.

Viscosity Rating

A measure indicating the thickness or fluidity of a liquid under specific conditions.

Feasible Region

The set of all possible points that satisfy the constraints of an optimization problem, within which the optimal solution is found.

Potting Soil

A medium used to grow plants, herbs, and vegetables in a pot or other durable container.