Two methods are used to predict how many customers will call in forhelp in the next four days. The first method predicts the numbers ofcallers to be 23, 5, 14, and 20 for the four respective days. Thesecond method predicts 20, 13, 14, and 20 for the four respectivedays. The actual numbers of callers turn out to be 23, 10, 15, and 19.Which method has the smaller mean absolute error (MAE)?Multiple ChoiceThe first methodThe second methodCannot be determinedBoth methods have the same MAE

Mean Absolute Error - measures the average magnitude of the errors between the actual and predicted…

Answered: Two methods are used to predict how…

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...

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Which describes the random component of a time series? a. Climatic condition b. Recurring and periodic, possessing a regular period or variation in a time series c. Wars, strikes, and other highly unpredictable events d. Man‑made conventions causing short‑run upward and downward patterns in activities such as sales e. The long‑run general movement in a time series (e.g. sales)
Selection and employment of the correct estimation method is: Multiple Choice O O O Easy once the data is gathered. Relatively easy because only two effective methods exist. Dependent on the accuracy/cost tradeoff for the estimation objectives. Primarily subjective in nature. Difficult because so many effective methods are available.
Several credit card firms now give users one-time-use credit card numbers as an extra layer of security for online purchases. There is just one purpose for these numerals. Customers may get the one-time-use number by visiting the website of the organization that issued their credit card. What are the advantages of employing this technology as opposed to more traditional methods of utilising credit card numbers? What are the advantages and disadvantages of employing this approach as opposed to using an electronic payment gateway for your own authentication?
No chatgpt used i will give 5 upvotes typing please i need both answers a and b
When might a researcher wish to randomize both question order and the order of responses? Provide an example.
c1 need urgent in 15 minutes
When you are connected to a representative, it will be, with equal probability, somebody from the billing department, customer retention department, or marketing department. When talking to a billing representative, the time until the issue is resolved is distributed uniformly from 10 to 20 minutes. Customer retention specialist will resolve you issue in exactly 2 minutes. Marketing person will first discuss with you promotions and new offers (this time will be normally distributed with average 10 minutes and standard deviation 2 minutes) and then transfer you to a new representative, who will, again be from one of the three departments with equal probability. What is the expected time that you will spend on the phone?
Residents of certain states, such as Florida and Tennessee would be wise to add sinkhole insurance to their homeowner’s insurance plan as it is typically not covered in the standard policy. Group of answer choices True False
Which of the following is the most critical concern when conducting internet surveys? Group of answer choices Everybody likes to participate in online surveys. Errors can be introduced because we can't be absolutely certain who answered the questions. Some people answer internet surveys on their mobile phone. Broadband isn't fast enough.
Transferring the benefit of low-costs to the customer is known as differential low-cost access. Group of answer choices True False
Kay and Micheal Passe publish what's Happening?--a biweekly newspaper to publicize local events. whats happening? has a few subscribers; it typically is sold at checkout stands. Much of the revenue comes from advertisers of garage sales and supermarket specials. In an effort to reduce costs associated with printing too many papers or delivering them to the wrong location, Micheal implemented a computerized system to collect sales data. Sales-counter scanners accurately record sales data for each location. Since the system was implemented, total sales volume has steadily declined. selling advertising space and maintainting shelf space at supermarkets are getting deifficult. Reduced revenue makes controlling costs all the more important. For each issue. Micheal caefully makes a forecast based on sales data collected at each location. Then he orders papers to be printed and distributed in quantities matching the forecast. Micheal's forecast refect a downward trend, which is present in the…
A manager is simulating the number of times a machine operator stops a machine to make adjustments. After careful study the manager found that the number of stops ranged from one to five per cycle and that each number of stops was equally likely. Using the random numbers 0.17 and 0.47 (in that order), determine how many stops for adjustments each of the next two cycles will have. The first cycle will have stops and the second cycle will have stops.

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