Using the Data Shown Below, Compute the Mean Square Error

question 9

Essay

Using the data shown below, compute the mean square error, mean absolute deviation, and mean absolute percentage error for the forecasts shown.

---

Definitions:

Managerial Accounting

Managerial accounting involves the provision of financial information to management for decision-making, planning, and control purposes.

Financial Accounting

The field of accounting focused on the summarization, analysis, and reporting of financial transactions pertaining to a business.

External Users

Individuals or entities outside a company who use its financial information, such as investors, creditors, and regulatory bodies.

Internal Users

Individuals inside a company who use financial information to make decisions, such as managers.