The mean absolute deviation is a measure of the average of the absolute discrepancies between the actual and the fitted values in a given time series.

Question

Quizplus · Accepted Answer

The mean absolute deviation (MAD) is indeed a measure of the average of the absolute discrepancies between the actual and the fitted values in a given time series. MAD is typically used as a measure of forecast accuracy, and its value is calculated by taking the average of the absolute differences between the actual values and the forecast values over a period of time.

The Mean Absolute Deviation Is a Measure of the Average