The Measure of Whether a Forecast Method Consistently Over- or Underestimates

question 25

Multiple Choice

The measure of whether a forecast method consistently over- or underestimates demand is

• A)mean absolute deviation (MAD).
• B)mean absolute percentage error (MAPE).
• C)bias.
• D)the tracking signal.

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Definitions:

Fickle Customers

Consumers who frequently change their preferences or brand loyalty, often influenced by trends or competitive offerings.

Marketing Plans

Detailed, strategic documents that organizations use to outline their advertising and marketing efforts for a specific period, highlighting actions to achieve marketing objectives.

Persuasive Documents

Written materials designed to convince or influence the reader's thoughts or actions.

Financial Resources

The funds that are available to a business for spending in the form of cash, liquid securities, and credit lines.