What Is the Mean Absolute Deviation of the Following Forecasts

question 129

Multiple Choice

What is the mean absolute deviation of the following forecasts? Month Actual Sales Forecast
Jan) 614 600
Feb) 480 480
Mar) 500 550
Apr) 500 600

• A)3174
• B) 164
• C) 41
• D) 136
• E) -34

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Definitions:

Systematic Data Collection

A structured and organized method of gathering and analyzing data to ensure consistency, reliability, and validity of research findings.

Report Bias

The tendency to have inaccuracies in the reporting of data or results, often due to subjective judgment, leading to misrepresented findings.

Anecdotal Evidence

Evidence based on personal accounts or stories rather than hard data or research, often considered less reliable.

Conclusions

The judgments or decisions reached after considering all the relevant facts and evidence.