Given Forecast Errors of 6, 4, 0 and -2, What

question 97

Multiple Choice

Given forecast errors of 6, 4, 0 and -2, what is the mean squared error?

• A) 14
• B) 18.67
• C) 16
• D) 12
• E) none of the above

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Definitions:

Output

The amount of products or services that a company, sector, or nation generates over a specific timeframe.

Gasoline Prices

The cost per unit of gasoline, influenced by factors like crude oil prices, taxes, and demand.

Shift

In economics, a movement or change in the position of a supply or demand curve in response to external factors.

MC, AVC, ATC Curves

Graphical representations in economics of the marginal cost, average variable cost, and average total cost, respectively, which firms use for production and pricing decisions.