Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Which of the following statements is ( are ) true? A ) The mean absolute deviation can be used as a measure of forecast error.
Which of the following statements is are true?
A The mean absolute deviation can be used as a measure of forecast error.
B Forecast error is RARELY distributed normally about the average demand.
C In a normal distribution the error will be within plus or minus MAD of the average about of the time.
D Forecast error is the difference between forecast supply and actual demand.
E Both A and
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started