The Mean Absolute Deviation (MAD) Is Used To

question 117

Multiple Choice

The mean absolute deviation (MAD) is used to:

• A)estimate the trend line
• B)eliminate forecast errors
• C)measure forecast accuracy
• D)seasonally adjust the forecast
• E)all of the above

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Definitions:

Intuition

The ability to understand something instinctively, without the need for conscious reasoning.

Optimizing

Optimizing involves making the best or most effective use of a situation or resource, often by balancing different factors or constraints.

Herbert Simon

An American economist, political scientist, and cognitive psychologist known for his contributions to decision-making processes and artificial intelligence.

Satisfactory Alternatives

Acceptable options or solutions that are considered adequate for meeting a particular need or solving a problem, albeit not necessarily the best possible ones.