Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You have completed a forecast of historical data and calculated MAD to be = 5 0 . 0 and bias to be = - 5
You have completed a forecast of historical data and calculated MAD to be and bias to be Which of the following statements is TRUE?
a your average error is units and you are overforecasting all of the time
b your average error is units and you are underforecasting all of the time
c your average error is units and you are overforecasting more than you are underforecasting
d your average error is units and your are underforecasting more than you are overforecasting
e you have made a calculation mistake
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