A Forecasting Method Has Produced the Following Data Over the Past

question 40

Multiple Choice

A forecasting method has produced the following data over the past 5 months shown in Data Set E2.What is the mean absolute deviation (accurate to 2 decimals) ?

• A)  0.60
• B)  1.20
• C)1.00
• D)1.25

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Definitions:

Consumer Surplus

The difference as marked by what consumers are prepared to spend on a good or service versus the actual payment made.

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.

Externalities

Costs or benefits that affect a party who did not choose to incur that cost or benefit.

Consumer Surplus

The difference in the total amount expected to be paid by consumers for a good or service and the actual payment made.