Which of the Following Summary Measures for Forecast Errors Does

question 28

Multiple Choice

Which of the following summary measures for forecast errors does not depend on the units of the forecast variable?

• A) MAE (mean absolute error)
• B) MFE (mean forecast error)
• C) RMSE (root mean square error)
• D) MAPE (mean absolute percentage error)

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Definitions:

Xanax

A prescription medication primarily used to treat anxiety and panic disorders, belonging to the benzodiazepine class of drugs.

Irrational Belief

An unfounded or unreasonable belief that is maintained despite evidence to the contrary, often leading to emotional distress or behavior problems.

Nervous Apprehension

A feeling of fear or anxiety about something that might happen or a situation.

Dopamine

A neurotransmitter involved in controlling movement and the reward and pleasure centers of the brain.