Question
A concert promoter is forecasting this year's attendance for one of his concerts based on the following historical data: Year Attendance Four Years ago 10,000
A concert promoter is forecasting this year's attendance for one of his concerts based on the following historical data:
| Year | Attendance |
| Four Years ago | 10,000 |
| Three Years ago | 12,000 |
| Two Years ago | 18,000 |
| Last Year | 20,000 |
The previous trend line had predicted 18,500 for two years ago, and 19,700 for last year. What was the mean absolute deviation for these forecasts?
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Fundamentals Of Corporate Finance
Authors: Richard A. Brealey, Stewart C. Myers, Alan J. Marcus
11th Edition
9781264101566
