When Forecast Errors Occur in a Normally Distributed Pattern, the Ratio

question 11

True/False

When forecast errors occur in a normally distributed pattern, the ratio of the mean absolute deviation to the standard deviation is 2 to 1, or 2 x MAD = 1 standard deviation.

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Prevailing View

The most widely accepted perspective or opinion on a particular issue within a relevant community or field.

Disaffirm

The legal right of a party to reject or annul a contract or agreement, often associated with contracts entered into by minors.

Power of Avoidance

The legal ability to nullify or cancel a contractual agreement or transaction under certain conditions.

Disaffirmance

The legal right of a party to renounce or revoke a contract or agreement, particularly relevant in cases involving minors or instances of fraud.