Examlex
A colorful box behind an object that makes it stand out is called a ____.
Inventory Control
The management of inventory levels to ensure that the right amount of stock is available at the right time and place, minimizing costs and meeting customer demand.
MAD
Mean Absolute Deviation, a statistic that measures the average absolute deviation of observed values from their mean.
MSE
Mean Squared Error (MSE) is a measure used in statistics to quantify the average of the squares of the errors or deviations between estimated and actual values.
MAPE
Mean Absolute Percentage Error, a measure used to assess the accuracy of forecast models by calculating the average absolute percent error between predicted and observed values.
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