Assume the Following Information Given This Information, the Mean Absolute Forecast Error as a

question 31

Multiple Choice

Assume the following information:
$\begin{array}{ccc}\text { Period } & \begin{array}{c}\text { Predicted Value of } \\\text { New Zealand Dollar }\end{array} & \begin{array}{c}\text { Realized Value of } \\\text { New Zealand Dollar }\end{array} \\1 & \$ .52 & \$ .50 \\2 & .54 & .60 \\3 & .44 & .40 \\4 & .51 & .50\end{array}$

Given this information, the mean absolute forecast error as a percentage of the realized value is about:

• A) 1.5%.
• B) 26%.
• C) 6%.
• D) 6.5%.
• E) none of the above

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Definitions:

Sales Increase

A rise in the volume or value of products or services a business has sold within a specific period.

Ending Inventory

The total value of goods available for sale at the end of an accounting period.

Potted Plants

Potted Plants are live plants maintained in containers or pots, used for decorative, indoor or outdoor purposes, enhancing environmental aesthetics.

Units Produced

Refers to the total quantity of items manufactured by a company within a specific period, often used to assess productivity and operational efficiency.