Which of the following is a commonly used measure for measuring forecast error?
A)MDE
B)MKE
C)MAD
D)MES

Question

Quizplus · Accepted Answer

MAD (Mean Absolute Deviation) is a commonly used measure for measuring forecast error. It calculates the average absolute difference between the forecasted values and the actual values, giving a measure of how inaccurate the forecast was. MDE, MKE, and MES are not commonly used measures for measuring forecast error.

Which of the Following Is a Commonly Used Measure for Measuring