Multiple Choice
The mean absolute error, mean squared error, and mean absolute percentage error are all methods to measure the accuracy of a forecast. These methods measure forecast accuracy by
A) determining how well a particular forecasting method is able to reproduce the time series data that are already available.
B) using the current value to estimate how well the model generates previous values correctly.
C) predicting the future values and wait for a pre-defined time period to examine how accurate the predictions were.
D) adjusting the scale of the data.
Correct Answer:

Verified
Correct Answer:
Verified
Q26: A time series that shows a recurring
Q27: In the moving averages method, the order
Q28: A positive forecast error indicates that the
Q29: The moving averages method refers to a
Q30: A time series plot of a period
Q32: Causal models<br>A)provide evidence of a causal relationship
Q33: Which of the following measures of forecast
Q34: Which of the following states the objective
Q35: Using a large value for order k
Q36: The exponential smoothing forecast for period t