Which of the Following Is Not One of the Summary

question 3

Multiple Choice

Which of the following is not one of the summary measures for forecast errors that is commonly used?

• 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:

Modified Cash Basis

It is an accounting method that combines elements of the cash basis and accrual basis, recording income when received but expenses when incurred.

Research and Development

This is a set of activities intended to improve existing products or services or to create new ones, often involving scientific or technological innovation.

Straight-Line Depreciation

An approach to evenly spread out an asset's expense over its lifespan.