The Most Commonly Used Measures of Forecast Accuracy Are The

question 10

Multiple Choice

The most commonly used measures of forecast accuracy are the:

• A)mean absolute deviation and the sum of squares for forecast errors.
• B)sum of squares for forecast error and seasonal indexes.
• C)seasonal indexes and the percentage of trend.
• D)All of these choices are correct.

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Definitions:

Measures

Quantitative or qualitative criteria used to evaluate the performance, progress, or quality of a project, process, or outcome.

Realistic Job Previews

An employment strategy providing prospective employees with a truthful overview of what a job entails, including both positive and negative aspects.

Turnover

The rate at which employees leave a company and are replaced by new personnel, affecting organizational consistency and performance.

Work Conditions

The environment in which an employee works, including factors such as safety, hours, physical demands, and stress levels.