The actual values for a data set all range between 100 and 200, and a manager develops a forecast model for the data. If the mean squared error and the mean absolute deviation error measurements for forecast are identical, what can we conclude about the forecast? a. This is mathematically impossible. b. The forecast is accurate. c. The forecast tends to overpredict. d. The forecast tends to underpredict.
The actual values for a data set all range between 100 and 200, and a manager develops a forecast model for the data. If the mean squared error and the mean absolute deviation error measurements for forecast are identical, what can we conclude about the forecast? a. This is mathematically impossible. b. The forecast is accurate. c. The forecast tends to overpredict. d. The forecast tends to underpredict.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
Related questions
Question
The actual values for a data set all range between 100 and 200, and a manager develops a forecast model for the data. If the mean squared error and the mean absolute deviation error measurements for forecast are identical, what can we conclude about the forecast?
| a. |
This is mathematically impossible. |
|
| b. |
The forecast is accurate. |
|
| c. |
The forecast tends to overpredict. |
|
| d. |
The forecast tends to underpredict. |
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Recommended textbooks for you
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.