Given Forecast Errors of 4, 8, and −3, What Is

question 50

Multiple Choice

Given forecast errors of 4, 8, and −3, what is the mean square error?

• A) 5
• B) 9
• C) 25
• D) 29.67
• E) 89

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Definitions:

Replenishment Cycle

The repeat process of ordering and stocking new inventory to replace what has been sold or used, ensuring a sufficient level of stock is maintained.

Retailer and Distributor

Involved in the distribution process, with retailers selling goods directly to consumers and distributors serving as intermediaries who move products from manufacturers to retailers or other businesses.

Customer Order Entry

A system or process that captures and records customer requests for goods or services.

Order Accuracy

The degree to which completed orders correctly match the initial specifications or requests in terms of quantity, type, and quality.