A. Which of the following statements about CFE and MFE is FALSE? Check all that apply.

They are unitless. MFE stands for Mean Forecast Error. CFE is the scaled down version of MFE. Positive errors may be offset by the negative ones. The biases are aggregated. A positive CFE means the forecasting method is biased towards overestimating. The least biased CFE/MFE is preferred. CFE stands for Cumulative Forecast Error. They cannot be negative.

B. Which of the following statements about MAE and SSE is FALSE? Check all that apply.

None can be negative. Errors do not cancel out each other. They are unitless. SSE stands for Sum of Standard Errors. MAE is always greater than SSE. SSE is the scaled down version of MAE. Lower values are preferred. A positive value means the forecasting method is biased. MAE stands for Mean Absolute Error. They can be used to compare two applications of the same forecasting method.