The Following Is the List of Mean Absolute Deviation (MAD)statistics

question 19

Multiple Choice

The following is the list of mean absolute deviation (MAD) statistics for each of the models you have estimated from time-series data: Based on the MAD criterion,the most appropriate model is

• A)linear trend
• B)quadratic trend
• C)exponential trend
• D)autoregressive(2)

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Definitions:

Materials Quantity Variance

The financial difference between the actual quantity of materials used in production and the expected quantity, based on standard costs.

February

The second month of the year, often associated with cold weather in the Northern Hemisphere and used as a time period reference in accounting.

Materials Price Variance

The difference between the actual cost of materials and the expected (or standard) cost.

March

The third month of the year in the Gregorian calendar.