Practical Operations Management
Practical Operations Management
2nd Edition
ISBN: 9781939297136
Author: Simpson
Publisher: HERCHER PUBLISHING,INCORPORATED
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Chapter 4, Problem 10P
Summary Introduction

Interpretation:Identification of bias in the calculations made in a forecasting technique of mean error or mean absolute deviation.

Concept Introduction:Mean error is the mean (average) of forecast error calculated by subtracting forecasted value from observed value & central point of absolute deviations refers to mean absolute deviation and reflects the deviations of absolute error from the mean.

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