In Case of Forecasts, the Root Mean Squared Error Is

question 18

Multiple Choice

In case of forecasts, the root mean squared error is the:

• A)average of the forecast errors divided by the variance of the errors.
• B)average of the absolute forecast errors.
• C)standard deviation of the forecast errors without any degrees of freedom adjustment.
• D)standard deviation of the forecast errors with a degrees of freedom adjustment.

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Definitions:

Closed System

A theoretical concept in various sciences referring to a system that does not interact with others systems or its environment, exchanging neither matter nor energy.

Open System

A social system in which status is based on achieved attributes.

Social Stratification

The hierarchical arrangement of individuals or groups in society based on wealth, power, race, education, etc., which affects their access to resources and opportunities.

Caste

A form of social stratification characterized by hereditary status, endogamy, and social barriers sanctioned by custom or law.