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The Actual Demand for a Product and the Forecast for the Product

question 5

Essay

The actual demand for a product and the forecast for the product are shown below. Calculate MAD and MSE. Show all of your computations. The actual demand for a product and the forecast for the product are shown below. Calculate MAD and MSE. Show all of your computations.


Definitions:

Deductive Argument

A form of reasoning where, if the premises are true, the conclusion must also be true, proceeding from general principles to a specific case.

Causal Arguments

Reasoning that seeks to establish a cause-and-effect relationship between two or more phenomena.

Correlation

A measure or degree of relationship between two variables where changes in one variable correspond to changes in the other, though not necessarily implying causation.

Self-Selected Sample

A sample where only the people most interested in the poll or survey participate.

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