The Primary Purpose of the Mean Absolute Deviation (MAD) in Forecasting

question 25

Multiple Choice

The primary purpose of the mean absolute deviation (MAD) in forecasting is to

• A) estimate the trend line
• B) eliminate forecast errors
• C) measure forecast accuracy
• D) seasonally adjust the forecast
• E) all of the above

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Definitions:

Rely

Depend on or trust in something or someone for support or maintenance.

Voidable

A contract or transaction that is legally valid but may be declared void by one of the parties.

Unenforceable

Refers to a contract or clause that, due to legal deficiencies or fairness issues, cannot be compelled or enforced by law.

Annullable

Refers to something that can be declared void or invalid, usually in a legal context.