A Time Series with Forecast Values and Error Terms Is

question 9

Multiple Choice

A time series with forecast values and error terms is presented in the following table.The mean absolute deviation (MAD) for this forecast is ___.

• A)3.54
• B)7.41
• C)4.43
• D)17.72
• E)4.34

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Definitions:

C-chart

A type of control chart used to monitor the number of defects per unit in a manufacturing or business process.

Flaws

Imperfections, defects, or faults that affect the appearance, functionality, or integrity of an object or process.

Process Capability Ratio

The process capability ratio is a statistical measure that quantifies how well a process can produce output within specified limits of variability.

Design Specifications

Detailed descriptions of the requirements for a product, including dimensions, materials, and performance criteria.