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The Actual and Forecast Values of a Time Series Are

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The actual and forecast values of a time series are shown below. The actual and forecast values of a time series are shown below.    a.Calculate the mean absolute deviation (MAD). b.Calculate the sum of squares for forecast error (SSE)
a.Calculate the mean absolute deviation (MAD).
b.Calculate the sum of squares for forecast error (SSE)


Definitions:

Simulated Service

A technique in service design where a service is tested using simulations to identify potential issues and improvements before actual implementation.

Monte Carlo Analysis

A problem-solving technique that uses random sampling and statistical modeling to estimate mathematical functions and simulate the probability of different outcomes in a process.

Average Service

The mean level of service quality provided by an organization, gauged over a specific period or across various service instances.

Random Process

A sequence of unpredictable events in which the outcome of any specific event cannot be accurately predicted.

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