Define forecast error and describe its metrics
Forecast error is the difference between the observed value of the time series and the forecast, or At - Ft. Three types of forecast error metrics are mean square error (MSE), mean absolute deviation (MAD), and mean absolute percentage error (MAPE).
You might also like to view...
Grace Co. had a Chinese yuan payable resulting from imports from China and a Mexican peso receivable resulting from exports to Mexico. Grace recorded foreign exchange losses related to both its yuan payable and peso receivable. Did the foreign currencies increase or decrease in dollar value from the date of the transaction to the settlement date?
a. Increase Increase b. Increase Decrease c. Decrease Increase d. Decrease Decrease
American spendthrifts outnumber American tightwads
Indicate whether the statement is true or false