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You are hired as a consultant to assess a firm's ability to forecast. The firm has developed a point forecast for two different currencies presented in the following table. The firm asks you to determine which currency was forecasted with greater accuracy. Do not round intermediate calculations. Round your answers to two decimal places. Actual Yen Value Period 1 Yen Forecast Pound Forecast Actual Pound Value $0.0053 $0.0056 $1.47 $1.56 2 $0.0052 $0.0054 $1.54 $1.57 3 $0.0055 $0.0051 $1.51 $1.58 4 $0.0054 $0.0053 $1.55 $1.50 The mean absolute forecast error as a percentage of the realized yen value is %. The mean absolute forecast error as a percentage of the realized pound value is %. Because the mean absolute forecast error as a percentage of the realized pound value is -Select- than that of the yen, the -Select- was forecasted with greater accuracy.

You are hired as a consultant to assess a firm's ability to forecast. The firm has developed a point forecast for two different currencies presented in the following table. The firm asks you to determine which currency was forecasted with greater accuracy. Do not round intermediate calculations. Round your answers to two decimal places. Actual Yen Value Period 1 Yen Forecast Pound Forecast Actual Pound Value $0.0053 $0.0056 $1.47 $1.56 2 $0.0052 $0.0054 $1.54 $1.57 3 $0.0055 $0.0051 $1.51 $1.58 4 $0.0054 $0.0053 $1.55 $1.50 The mean absolute forecast error as a percentage of the realized yen value is %. The mean absolute forecast error as a percentage of the realized pound value is %. Because the mean absolute forecast error as a percentage of the realized pound value is -Select- than that of the yen, the -Select- was forecasted with greater accuracy.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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You are hired as a consultant to assess a firm's ability to forecast. The firm has developed a point forecast for two different currencies presented in the following table. The firm asks you to determine which currency was forecasted with greater accuracy. Do not round intermediate calculations. Round your answers to two decimal places. Period Yen Forecast Actual Yen Value Pound Forecast Actual Pound Value 1 $0.0053 $0.0056 $1.47 $1.56 2 $0.0052 $0.0054 $1.54 $1.57 3 $0.0055 $0.0051 $1.51 $1.58 4 $0.0054 ps $0.0053 $1.55 $1.50 The mean absolute forecast error as a percentage of the realized yen value is %. Os The mean absolute forecast error as a percentage of the realized pound value is %. Because the mean absolute forecast error as a percentage of the realized pound value is -Select- than that of the yen, the -Select- was forecasted with greater accuracy.
Transcribed Image Text:You are hired as a consultant to assess a firm's ability to forecast. The firm has developed a point forecast for two different currencies presented in the following table. The firm asks you to determine which currency was forecasted with greater accuracy. Do not round intermediate calculations. Round your answers to two decimal places. Period Yen Forecast Actual Yen Value Pound Forecast Actual Pound Value 1 $0.0053 $0.0056 $1.47 $1.56 2 $0.0052 $0.0054 $1.54 $1.57 3 $0.0055 $0.0051 $1.51 $1.58 4 $0.0054 ps $0.0053 $1.55 $1.50 The mean absolute forecast error as a percentage of the realized yen value is %. Os The mean absolute forecast error as a percentage of the realized pound value is %. Because the mean absolute forecast error as a percentage of the realized pound value is -Select- than that of the yen, the -Select- was forecasted with greater accuracy.
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