Which of the Following Statistical Measures Is(are) Used to Help

question 5

Multiple Choice

Which of the following statistical measures is(are) used to help decision makers assess the potential for their model to provide usable forecasts?

• A) mean square error
• B) mean absolute deviation
• C) mean absolute percentage error
• D) forecast errors
• E) all of the above

---

Definitions:

Agency Relationship

A legal relationship in which one party, the agent, acts on behalf of another party, the principal, in business transactions.

Obtain Property

The act of gaining possession or control over property through legal means or transactions.

Agency Relationship

A legal arrangement where one party, the agent, is authorized to act on behalf of another, the principal, in business dealings or other matters.

Authorized Act

An action taken by an individual or entity that is legally permitted under the law or by a governing body.