The Following Sales Data Are Available for 2003-2008 Calculate the Average Error

question 20

Essay

The following sales data are available for 2003-2008:
$$\begin{array} { | c | c | c | } \hline \text { Year } & \text { Sales } & \text { Forecast } \\\hline 2003 & 7 & 9 \\\hline 2004 & 12 & 10 \\\hline 2005 & 14 & 15 \\\hline 2006 & 20 & 22 \\\hline 2007 & 16 & 18 \\\hline 2008 & 25 & 21 \\\hline\end{array}$$
Calculate the average error.

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Definitions:

Reciprocal Relationship

A mutual exchange or interaction between two entities, where each party gives and receives something of value.

Schooling

The process of receiving formal education, typically in a school institution.

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Quantitative assessments derived from standardized tests designed to measure an individual’s cognitive abilities and potential.

Genes

Sequences of DNA or RNA that code for molecules that express genetic traits. They are the basic physical and functional units of heredity.