A Summary Statistical Measure Frequently Used When Forecasting Exchange Rates

question 26

Multiple Choice

A summary statistical measure frequently used when forecasting exchange rates is known as the

• A) standard deviation.
• B) mean.
• C) mean absolute error.
• D) mode.

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Definitions:

Critical Value

The threshold or point on the test distribution that is compared with the test statistic to determine whether to reject the null hypothesis.

T Value

A statistic used in hypothesis testing to determine if there is a significant difference between two groups.

Test Statistic

A value calculated from sample data that is used in a hypothesis test to determine whether to reject the null hypothesis.

Degrees Of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution or calculation.