Mean Absolute Percentage Error (MAPE)is the ______

question 76

Multiple Choice

Mean absolute percentage error (MAPE) is the ______.

• A)average of the sum of the absolute differences between the actual and forecasted demand values
• B)average of the sum of the squared differences between the actual and forecasted demand values
• C)average of the absolute percentage error
• D)average of the absolute differences between the actual and forecasted demand values

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Definitions:

Contingent Liability

A potential financial obligation that may occur or become payable in the future, depending on the outcome of a specific event.

Reasonably Possible

A term used in accounting and law to describe a situation or outcome that, while not certain, is more than a remote possibility.

Estimable

Capable of being estimated or appraised, often used in finance and accounting to describe assets or liabilities that can be accurately assessed.

Installment Note

A debt instrument that requires regular payments, or installments, of principal and interest over a specified period.