Assume That a Time-Series Forecast Is Generated for Future Demand

question 85

Multiple Choice

Assume that a time-series forecast is generated for future demand and subsequently it is observed that the forecast method did not accurately predict the actual demand.Specifically,the forecast errors were found to be: Mean absolute percent error = 10%
Cumulative sum of forecast errors = 0
Which one of the statements concerning this forecast is TRUE?

• A)The forecast has no bias but has a positive standard deviation of errors.
• B)The forecast has a positive bias and a standard deviation of errors equal to zero.
• C)The forecast has no bias and has a standard deviation of errors equal to zero.
• D)The forecast has a positive bias and a positive standard deviation of errors.

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