Mean Absolute Deviation (MAD) Is a Good Metric of Forecast

question 3

True/False

Mean absolute deviation (MAD) is a good metric of forecast accuracy because it shows whether a forecast is above or below actual demand.

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Definitions:

Confidence Interval

A range of values, derived from sample data, that is likely to contain the value of an unknown population parameter with a certain level of confidence.

Smoking Rates

The percentage of individuals in a population who smoke tobacco products.

Confidence Interval

An ensemble of values, from statistical analysis of samples, believed likely to encircle the value of a clandestine population parameter.

Female Students

A demographic category referring to students identified as female.