Consider the Following Time Series with Forecast Values and Errors

question 60

Multiple Choice

Consider the following time series with forecast values and errors.
$$\begin{array} { | l | l | } \hline \begin{array} { l } \text { Actual } \\\text { Demand }\end{array} & \begin{array} { l } \text { Forecast } \\\text { Demand }\end{array} \\\hline 10 & 9 \\\hline 13 & 15 \\\hline 15 & 16 \\\hline 11 & 13 \\\hline 12 & 10 \\\hline\end{array}$$
-Calculate the mean absolute deviation (MAPE) .

• A)2.8
• B)13.4
• C)7.5
• D)1.6
• E)2.4

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Definitions:

Balance of Trade Deficit

A situation where the value of a country's imports exceeds the value of its exports, resulting in a net outflow of domestic currency to foreign markets.

Balance of Payments Surplus

A situation where the total of a country's exports and incoming funds from other countries exceeds its imports and outgoing funds.

Imports

Goods and services purchased from other countries.

Exports

Goods or services sent from one country to another for sale or trade.