Which of the three Forecast Error Measures described in the text is simply a measure of the average error for all time periods considered?
A) Mean Squared Error (MSE)
B) Mean Absolute Percent Error (MAPE)
C) Mean Absolute Deviation (MAD)
D) None of the measures can be described this way.

Question

Quizplus · Accepted Answer

Mean Absolute Deviation (MAD) is a measure of the average error for all time periods considered, as it calculates the average of the absolute differences between the forecasted and actual values.

Which of the Three Forecast Error Measures Described in the Text